Canadian Cryptocurrency Tax Guide

If you are considering donating to a charity and are also a crypto enthusiast, you can create substantial savings for yourself while donating by leveraging your crypto assets. The future is now.

A cost basis is used to calculate what the potential gain of a capital asset should be based on. To make it complicated, countries often have varying different ways to calculate a cost basis, especially for cryptocurrencies, which makes it complicated for investors.

Cryptocurrency audits are investigations into blockchain based cryptocurrencies performed on individual investors or cryptocurrency businesses

Stablecoins are becoming more and more prominent in the crypto market as individual investors and big corporations try to avoid volatility of the crypto market. Total transaction volume of stablecoins in 2021 was over $4 Trillion (USD).

Crypto cards have surged into the public eye in the last few years as many large exchanges have started giving investors the ability to spend their cryptocurrency with a crypto debit card. A great example of this is crypto.com’s debit card which is packed with features.

Although CRA has specific guidelines around gifting, there is none for cryptocurrency. We must utilize existing rules to gauge how CRA currently views gifts in the form of crypto assets.

When venturing into the crypto world, it’s important to know what events are taxable and how they will be taxed.. NFTs are not exempt from tax., So, here's how CRA could potentially tax NFTs and the position you could take on them.

As crypto slowly creeps into the public eye, it’s important that new investors understand the importance of wallet choice. Cryptocurrency investors, unlike the traditional investors have an unrivaled interest in privacy and owning their wallet keys.

With the introduction of cryptocurrency to the mainstream, it’s important that investors understand the importance of choosing the correct crypto exchange to either trade or store their cryptocurrency on.