Sunday, January 30, 2011

Taxes On The Dinar For Canadians

Hi Everyone
As our investment in Dinar is slowly coming to conclusion,its time to figure out how to keep from paying an excessive amount of taxes on our investment.
  First of all i'm not a Qualified Tax Accountant so what ever i say here is for Entertainment Purposes Only.Please Verify everything with  Tax Expert First .I'm only giving you Ideas
 The Iraqi Dinar is a totally different type of income virtually unheard of before so there is really not a whole lot of info on how it will be taxed.
 First of all,will it be taxed,Check with a professional maybe it is not.If it is taxed will it be Income or Taxable Gains.Again check with your tax guy.Also get a second opinion,maybe a third.
 I personally set up an offshore corporation.I did this for another program that i'm still waiting on to save on taxes.They are expensive to set up here in Canada,I was Quoted around 12 to 15 thousand from a firm in Ottawa.I got one for 4 grand in the states.They have contacts in Toronto that can help you with your taxes on this.If anyone wants any info let me know and i will get you in contact with them.You need to get this set up prior To The RV.
 You can also set up an Nevada Corp in the states.This is best if you have an residence in the states too
 I can also get you info on this too.
 Trusts are big with the Dinar Investers in the States.I haven't heard how they work up here.I will check this out this week.
 It is my Opinion that the Dinar will come in around a 1.00 US to 1.37 US which is value of the Euro and then float up .If it comes in higher YIPPEE.If you have under a million dinar if you are married and want to share with your Spouse,you can do income spliting.
If you have a mortgage,loans,credit card debt check with your Tax Consultant and Bank to see if you can pay them with Dinars.Might be able to do it.Save on taxes that way.
If you are giving money to Charities,pay them in Dinars
 If you have $1 million and up i would look into a Corp or Trust
Again contact a Tax Expert To Confirm My Ideas

The Iraqi parliament is back to work ,Hopefully they will move forward quickly now.I will post on that
Any questions send to my email,thanks

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