Quote:
Originally Posted by ebffs
Even paying a professional to invest for you in the form of a relatively low risk mutual fund would be literally exponentially better than letting money rot in a chequing account for years, even if you paid the tax on the income source up front.
You are suggesting that paying taxes on my winnings + investing low risk is exponentially better than not paying taxes on my winnings + not investing at all?
Can you show some math? I'm sure you are right, but it would help if you can further explain.
If you are talking about just investing and paying that tax vs not investing at all, then yes, obviously. My concern is that by filing, I (slightly?) increase the chance of ending up having to pay back taxes on my winnings. So unless the return on investment is pretty high, I dont think its worth taking that risk. Is this a bad way of looking at it?
FWIW, I have read this entire thread.