And the ring bearer — if they choose to sell the "precious" — may owe a hefty tax bill on the profits.
Marta Iwanek | Toronto Star | Getty ImagesThe Canadian who acquired The One Ring card would most likely pay tax on half their profits.
If The One Ring card were sold for 2 million euros — which appears to be the current top bid — then 1 million euros (about CA$1.46 million) would be taxable.
Total Canadian tax bill is 'subjective'But what's Canada's tax rate on the profits?
(In reality, the effective tax rate would be slightly lower since Canada's income tax system is progressive, as in the U.S., experts said.
Persons:
Elijah Wood, Frodo, Misty, Sauron, Mount Doom, —, Roger Perzan, Marta Iwanek, Plaskett, Howard Gleckman, it's, Scott Plaskett, John Oakey, Oakey, Sir Ian McKellen, Gandalf
Organizations:
Coast LLC, Canadian, Toronto Star, Getty, Urban, Brookings Tax Policy Center, Total Canadian, Chartered Professional Accountants Canada, Canada Revenue Agency
Locations:
Rivendell, Toronto, Canada, U.S, Ontario, Scott Plaskett Toronto