Hi everyone, first time posting here.
I have a question regarding selling a large amount of silver (and some gold) to purchase a house, l live in Canada and l am not really sure of the in's and out's of selling large amounts of PMs and how it will relate to being taxed.
l have been selling some to live on for over a year now and doing so without much thought as to having to declare it to the government, usually an ounce of gold every month or so, l have sold to 3 different places and only one of them issued receipts automatically so l was happy to take cash at the other 2. Now as the price of silver starts to rebound from the last correction l would like to buy a small acreage to live on, currently l've been renting and house sitting for a couple of years waiting for the price of PM's to rise but feel its time to dig in and prepare for hard economical times and possible SHTF scenario ahead.
The only tax saving measure l've been able to come up with so far is to maybe sell half in December and sell the other half in January putting the gross amount into 2 tax years.
If anyone else has any ideas or knows what kind of taxes l would be looking at l would appreciate any input, thanks