Cryptocurrency Q&A
How are crypto gains taxed in Canada?
How are crypto gains taxed in Canada?
Dreamchaser
Wed Feb 19 2025
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5
answers
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I'm curious about the taxation of profits made through cryptocurrency investments in Canada. How does the government treat these gains and what are the specific tax rules applied to them?
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5 answers
Sara
Fri Feb 21 2025
Canada adopts a unified approach to taxing cryptocurrency gains, without distinguishing between short-term and long-term capital gains.
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ZenMindful
Thu Feb 20 2025
In the case of deceased individuals, the deadline for filing income tax returns, including those related to cryptocurrency gains, may vary. It is crucial to consult with a tax professional to determine the specific deadline that applies in such cases.
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BlockchainMastermind
Thu Feb 20 2025
Cryptocurrency gains in Canada are subject to the standard provincial and federal income tax rates. This means that the tax liability for crypto gains is determined based on an individual's overall income and tax bracket.
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isabella_bailey_economist
Thu Feb 20 2025
For the majority of Canadian taxpayers, the deadline for filing income tax returns, including those related to cryptocurrency gains, is April 30th of the year following the tax year.
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Lorenzo
Thu Feb 20 2025
Self-employed individuals in Canada have an extended deadline for filing their income tax returns, which is June 15th of the year following the tax year. This extended deadline also applies to the reporting of cryptocurrency gains.
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