Yes, the Canada Revenue Agency(CRA) announces that you should report business income or capital gains from the disposition of cryptocurrency
This refers to the way you get rid of something, such as by giving, selling or transferring it. In general, possessing or holding a cryptocurrency is not taxable. But there could be tax consequences when you do any of the following:
It's kind of a gray zone for crypto. For example, if you bought stocks and then sold them for a gain, it’s a taxable event. Just because you haven’t withdrawn any physical cash from your accounts doesn’t change that fact. This is no different from selling stocks and not withdrawing the money from your account. Make sure you keep records of your cryptocurrency transaction in case the CRA asks to see them.
For more information, please click:
Canada Revenue Agency(CRA)Guide for cryptocurrency users and tax professionals
Canada Revenue Agency(CRA)Investing in cryptocurrency
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