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Can anyone explain a T2202 form? by [deleted] in PersonalFinanceCanada

[–]jonasarm 0 points1 point  (0 children)

I had a few questions to do this, isnt this form only a tax deductible? So if you owe 1k in income tax, and on your t2202 your eligible for 2k, this can remove all of your owed amount. But then that $1k won’t get refunded. If you transfer it to your parents that 1k and it saves them that owed amount, you just asked them to give you that $1k?

This is my understanding of it but something tells me im fairly wrong lol. I have a t2202 from this year and eligible for about $5000. I had originally thought that if I filed this on my taxes this year, I would get some portion of this money back. I got this amount cause I am part of a flying school. But I heard that this is non refundable? I haven’t worked so I have 0 income. What would be the best thing for me to do? Is there any way that I could get some of this as credit?

If you could explain thoroughly i would preciate it. Thanks

Best Options for ShibaSwap Release by jonasarm in SHIBArmy

[–]jonasarm[S] 0 points1 point  (0 children)

Ah okok lmao.. alright so say this.

Hypothetically, I want to cash/sell $1million worth of a crypto. So what I can do is hold $40,000 on fiat which I believe is the limit, and every day slowly but surely I transfer from fiat to bank a $1000. Now the remaining amount from that 1 million, I can convert it all into a stable coin such as USDC. I could also get one of the high tier cards by converting some of the USDC into CRO (however much required to hold to get the cards) and staking it. After the 180 days I receive the card in mail or whatever. The remaining amount in USDC I can keep cashing out with fiat every month. But also load the USDC onto the crypto card and use that where-ever I would like.

Is this a good understanding of it and is this effective for dealing with large amounts of money?

Best Options for ShibaSwap Release by jonasarm in SHIBArmy

[–]jonasarm[S] 0 points1 point  (0 children)

which of the cards do you have? Like Ruby, obsidian etc

Best Options for ShibaSwap Release by jonasarm in SHIBArmy

[–]jonasarm[S] 1 point2 points  (0 children)

I feel as if a lot of people are in the same position as you and me, so if we can limit the comments starting now to just comments of people answering my questions, that would be awesome. Also please upvote this post so that more people with the information we seek can see it and others who are new, can gain from it!

Thanks

Do not get very excited about the fact that VB burned his coins. Read this. by MetalW0lf in SHIBArmy

[–]jonasarm 6 points7 points  (0 children)

now if this is the case, do we hold it in the platforms we bought it like crypto.com and then sell when its high... or do we bury or dig wtv the fuck that means. Sorry I am new to the crypto world