Disclaimer: this article is for information only. It is not tax, legal, or investment advice. Consult a qualified professional for your situation.
Last updated: 2026-07-18. Starter guide being expanded (country-guide structure; official sources to be strengthened).
Do you pay crypto tax in Canada?
Yes — the framework is set by the Canada Revenue Agency (CRA).
How is crypto taxed?
The CRA generally taxes crypto under income tax rules: many investors realise capital gains on disposals (with an inclusion rate on the gain), while frequent trading or business-like activity can be fully taxable as business income. Mining and staking can create income on receipt.
How specific crypto transactions are taxed
Buying
Buying with CAD is usually not a disposition.
Selling, swapping, spending
Selling, swapping or spending can be a disposition — capital vs business characterisation is critical.
Transfers between your own wallets
Own-wallet transfers are usually not dispositions if beneficial ownership is unchanged.
Staking & passive rewards
Rewards may be income when received; later disposition can create a capital gain/loss.
Mining
Mining is often income (and sometimes a business) depending on facts.
When and how to report
Report on your T1 return with schedules for capital gains or business income as applicable. Filing deadlines typically fall around 30 April for most individuals (later if self-employed — confirm current CRA dates).
What records to keep
Adjusted cost base (ACB) tracking, CAD FMV, fees and complete history across exchanges and chains.
Software & CryptoTax Digest next steps
Useful links for this jurisdiction:
FAQ
Capital gain or business income?
Frequency, organisation and intent matter. Misclassification is a common CRA risk.
Do I need to report every wallet?
Report worldwide income and gains as required — incomplete records are a red flag.
Section outline inspired by leading country crypto-tax guides. Original CryptoTax Digest content — rates, tables and primary sources will be expanded.
