So basically in first case it would be affected by the tax (which would be specific for every country) while in the second case it would be treated as trading of stocks and bonds. Realtor Paul Chavady put his house on sale priced in BitCoins and he even got some offers, and he thinks that „When you sell [the BitCoins], they will deposit that in your account. As soon as it turns into Canadian dollars, it's back in the eyes of the CRA and everybody else. If you get a big deposit of $10,000, or $100,000, they are going to say,“Hey, where did that come from?““

Since BitCoin is becoming more and more popular, we could soon expect that more and more tax authoritires will follow the example from their Canadian colleagues.

Anyone else see this coming? Tell us in our Forum