Are my NFTs taxable in Canada?

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Are my NFTs taxable in Canada?

Rounding it up

  • Most NFTs are taxable in Canada when you sell them.

  • The amount of tax that you’ll pay depends on a lot of factors, including whether you’re selling NFTs as a personal investment or as part of a business.

  • Digital asset taxation is new in Canada, so laws and regulations may change in the coming years.

  • It’s always best to consult a qualified accountant who understands digital asset taxation to ensure that you’re not over or underpaying at tax time.

7 min read

Gaby Pilson
#cryptocurrency#NFTs#digital asset#taxes

Gaby Pilson

Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.

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