Is Cryptocurrency Taxable in Canada?

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Is cryptocurrency taxable in Canada?

Rounding it up

  • The CRA does tax most cryptocurrency transactions.

  • Canadians do not have to pay taxes for buying or holding cryptocurrency.

  • Taxpayers are subject to pay capital gains or business income tax after selling or mining cryptocurrency.

  • The percentage of net profits that are taxable depends on whether the profits are classified as capital gains or business income.

7 min read

Cedric Jackson
#crypto#cryptocurrency#tax#CRA

Cedric Jackson

Cedric Jackson is a crypto writer, sharing his experience to educate and inform people about Bitcoin, cryptocurrency, and blockchain technology, aiming to provide a global perspective on the events shaping the development of the new crypto economy.

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