When paying taxes on selling gold...

When paying taxes on buying/selling gold. I guess you would only have to pay taxes when your buying. Is that correct? And how much taxes do you have to pay? Is there any way out of this, or is it just a small fee?

 

According to this website, it looks like you don't have to pay taxes...
What Is The Legal Status Of Virtual Goods?

 

Don't hold me to this, as I am a tax specialist in the UK not in Canada. General advice:

1) Tax rules/laws depend upon jurisdiction. If you live in Canada, I wouldn't put too much trust into a Forbes article which I presume is looking at the US, not Canada.
2) In general, most tax jurisdictions tax people in two ways:
a) Income/trading - this is something someone does regularly, not a one-off income like selling a car.
b) Capital gains - this is things like selling property, shares, investments, etc.

My guess would be you wouldn't have to pay tax if you're not doing it regularly. The main point, however, is that if you've set up a company to sell anything virtual, those profits might be subject to Canadian corporation tax or the equivalent.

In general, if you're making enough money, go see an accountant/local tax advisor.

Hope that helps.

Harry