EngineeringRobo’s Cryptocurrency / Stock Tax Guide

In this guide, you will learn everything you need to know about bitcoin and cryptocurrency taxation in Canada.

If you’ve bought and sold cryptocurrency in the last calendar year, it’s time to start thinking about the impact this may have on your income tax return. Whether you’ve made a profit or a loss trading cryptocurrency, you’ll need to declare it in your annual tax return.

In Canada, cryptocurrency is generally treated as a commodity, which means it is taxed as either income or a capital gain. It’s essential that you understand the tax consequences of your specific situation when it comes to buying, selling and trading crypto. In this guide, we look at the basics of cryptocurrency tax in Canada to help you learn what you need to do to keep the taxman happy.

It’s almost everyone’s favourite time of the year! Tax season is getting closer! EngineeringRobo Team get a lot of questions about how cryptocurrency gains or losses are taxed, and we’ve published this updated 2020 tax guide to help you out.

Before we dig into the weeds of capital gains in Canada, there’s something you should know. This is general information on capital gains to give you a better understanding of how it works. Since everyone’s…