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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.
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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