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Just wondering how Canadians are treating their domains for tax purposes. Based on my research, I am inclined to declare the domains as Class 14 assets (Limited Life Intagibles). I will deduct the annual registration fee over 2 years (because of the half year rule). With respect to advertising revenue, I will include as business income.
My only remaining question is, if I end up selling my domain for a profit, will I be able to treat the profit as capital gains?
Thanks
this would be a great thing to know. i'll ask my accountant.
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