Thank you all for this thread
I live in cow town. I purchased my dinars on the internet about 6 months ago.
Does anyone from western Canada know where Dinars are being traded IN
Canada? I have spoken to 5 banks here in Calgary and they more or less laughed at me at the mention of Dinars. I am curious about actually selling them once an R.V. hits. Are there any other legalities for Canadians you might be aware of?
All things being equal our tax codes on this INVESTMENT sound pretty good compared to I.R.S. tax codes. I am quite interested in learning all I can about this investment from a Canadian stand point since most info here and the other place is U.S. based.
Calgary is a pretty good place to live. After that in my opinion I would live in the B.C. interior of the west coast. You never really hear all that much about my area in the bigger picture, but a lot of people must agree with me as the population of Calgary grew from 650000 to over a million in 6 short years.
Thank you so much for any info you might have.
a greatful Canadian
seanscott
I too got mine from BNS here in Sherwoodpark
Quote:
Originally Posted by
Cdn Scrooge
I bought my dinars at Scotiabank and I presume they will be exchanging when it hits the regular forex markets.
Also, I read in one of the news articles last week that the Royal Bank is one of the banks that is going to be working with Iraq in the near future.
As long as it will be listed on the regular forex markets, you should be able to exchange it at any bank here in Canada. I do believe that there will probably be a procedure for verifying the notes before the cash will hit your account, but that is normal for any foreign currency when large amounts are involved.
My son & I picked up some more this past week & he asked at the bank how much they were BUYING the D for, they replied $600 on 1,150000. We just paid $ 997.20 Interesting hummm?:yak: :eek:
Thank you Thank you Thankyou
The very same est. have told me no in various ways. ALL downtown branches.
I expected this however, and was just getting a second opinion from you, as this is a UNUSUAL investment in range and scope. In my opinion, bankers are not business people so it may be difficult for them to see this, OR they are on
GAG order except with the high and mighties. I've heard Starbucks got 20 some no's before their 1st business loan so bankers are not always the best to seek direction from hence the various responses regarding the Dinar.
I have been laughed at, ridiculed, and questioned. My Dads broker with a Major trading house needed to be educated on the Dinar and then thought it was not a good choice for him.:rofl: My dad agrees with me, and he is already quite comfortable finacially.
I am guessing that there are no Canadian banks SELLING the Dinar at this time. Is this correct in your findings? Thank you for your help
seanscott
Thanks to my knowledable Canuck friends!!!
Hey fellow Canadians,
Just wanted to say a quick thanks for this very usefull information. I actually started a thread about canadian taxes a few months ago but I think it just got bumped to the bottom of the page LOL. Thanks for this new thread though.
I bought my first batch of dinars almost six months ago from Scotiabank here in Ottawa and have since gone back just a few more times (:help: i'm a dinarholic!)
I am 26 years old and unfortunately know NOTHING about taxes, capital gains and all that other fun stuff.
CDN Scrooge, I was just wondering if you would be able to give us an example of how our dinars would be taxed for people like me who are 'tax dumb' ? Let's say for example someone has $1 Million Iraqi Dinars. From this example, can you please give us a list of how we would declare this etc. I would like to know how much of that $1 Million will be taxed all the way down to the end result , that is if you don't mind?
Thanks very much from a fellow Canuck!
Cheers all, :drinkbudd
Rob
Here is the Link. Only one post there of use.
Canadian Tax Implications
Re: Post 25. If you go to the following CRA site I believe you will see that I may well be correct in what I believe the Canadian tax implications are for us on foreign currency exchange. http://www.cra-arc.gc.ca/E/pub/tp/it346r-e.html
Also view IT95R - Foreign exchange gains and losses