Are NFTs taxable in Canada?

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Are non-fungible tokens (NFTs) taxable in Canada?

Rounding it up

  • NFTs, or non-fungible tokens, are digital assets like GIFs, images, songs, tweets, or sports plays.

  • NFTs allow creators to continue to profit off the sale of their art with embedded royalties, using blockchain technology to track ownership.

  • Canada taxes NFT sales depending on the type of income realized at sale; they’ll either be business or capital gains.

5 min read

Dan Bucherer
#non-fungible tokens#NFTs#blockchain#tax

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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