12 Things to Know about Canadian crypto tax in 2021

Disclaimer: I am not a financial or tax advisor. You are trading at your own risk and should consult a financial and tax advisor for any investment decisions and decisions that affect tax returns. Do your own due diligence when considering investing, and this information is for education/informational purposes only. The article “12 Things To Know About Canadian Crypto Tax In 2021” serves as educational content, not investing or tax advice.

Cover photo by The New York Public Library on Unsplash

Cryptocurrency is more popular now than it ever has been. It seems like we all know someone who has invested or is actively investing in these digital assets. But did you know that you have to pay tax on cryptocurrency profits?

I’m sure the answer isn’t astonishing. But paying cryptocurrency tax isn’t necessarily the same as paying tax on a stock or other public securities. In this crypto tax guide for Canadians in 2021, you will find how exactly these new-age investments are taxed and how much you might have to pay.

The topics that will be covered in this article will include:

  • Capital gains on cryptocurrency/allowable losses on cryptocurrency:
  • Calculating crypto gains and losses:
  • How does cryptocurrency tax work? / How does cryptocurrency get taxed? 
  • Can the government tax crypto? Why is there income tax on cryptocurrency?
  • CRA crypto tax: Canadian crypto tax laws
  • Standard crypto tax:
  • Gifting cryptocurrency tax:
  • Exchanging Cryptocurrency Tax:
  • Cryptocurrency mining taxes:
  • Which country has no tax on cryptocurrency?
  • Can you trade crypto tax-free?
  • How can you avoid paying taxes on cryptocurrency?
  • Crypto tax meme (it’s a good one)

This marks the second article on the website that I have now talked about cryptocurrency. If you’re curious to know my opinions and thoughts on cryptocurrency, you can always check out my latest article, where I discuss my feelings towards these popular investments.

As always, if you have any questions, please leave them down below in the comments. I’m always looking for new topics to write about, so once again, if you have a particular topic that you would like me to write about, please either email me at [email protected] or, of course, you can also leave a comment down below.

Capital Gains on Cryptocurrency/Capital Losses on Cryptocurrency:

I’m assuming that there might still be some people out there that don’t know the amount you are taxed on an investment. Whether it is public security such as a stock or in this case, any cryptocurrencies, there’s a way to calculate it.

The taxable amount is what is called your capital gains or your capital losses. So the capital gains are the amount that you have made on your investment.

The formula to calculate your capital gains is very straightforward. What you do is you take the ending value of your crypto investment (what you plan to sell it for) and subtract from the initial cost you paid for that investment.

If there are additional costs to holding the cryptocurrency, you may add that to the initial cost to calculate your adjust cost base or adjusted cost basis. The calculation using your adjusted cost base remains the same as above, except it’s the selling value subtracted by the adjusted cost base to compute the capital gain or capital loss.

It sounds pretty simple because, generally, it is that simple.

As for your allowable capital loss, you’re also taxed on this in a sense. Instead of being taxed on money that you have lost, it instead acts like a deductible. So, any money that you have lost on your crypto investments will be subject to a tax rate where the losses will be deductible on your tax returns and ultimately lower the amount you owe. 

The formula to calculate your capital loss is the same as to calculate your capital gains.

You take the ending value of your crypto investment and subtracted it from the initial cost you paid for the investment.

One of the best ways to track what your capital gains will be on investment, even if you plan on not selling it in the near future, is to write down the amount you initially paid for the investment. If you had written it down when you paid for it, this would help you better track how much you have made.

There’s also likely apps or programs out there that will help you do this, so you will want to explore that. Or, of course, you could always do this on a piece of paper or an Excel file. It’s really up to you.

But without knowing your capital gains or capital losses, you really won’t know if it is the perfect time to sell.

Calculating Crypto Gains and Losses:

After discussing the amount that you will be taxed or subject for deduction, let’s look at a brief example of both situations.

crytpo capital gains

In this first example, we will look at a capital gain from a Dogecoin investment.

So, our great pal Serge decided on January 1st of this year that he would purchase some Dogecoin. In fact, he had $100 leftover from gifts and decided he would invest that amount into the cryptocurrency.

As we can see on that date, Dogecoin was going for $0.05 each, which meant that Serge bought 2,000 and was actively campaigning for “Dogecoin to the Moon.”

After some time, Dogecoin had increased in price, as we can see during the end of May when each Dogecoin’s value was $0.50. Serge then decided that it was a great time to sell this investment in cash in on the gains he had made.

Therefore the ending value (or the amount he can sell it for) was a total of $1,000, as he took the total number of Dogecoin he owned and sold it for the market value at that time.

The taxable capital gain is $900 as you take the investment’s ending value and subtract it by the initial. Therefore, we can say that Serge had made $900 on his Dogecoin investment.

Let’s look at it the other way around.

crypto capital loss

Assume that the initial story remains the same. Serge bought some Dogecoin at $0.05 each, with his initial investment costing $100.

Except over time Dogecoin was very volatile and ended up decreasing more than increasing in price.

Serge looks at this volatility and is very concerned whether or not he may lose his entire investments in Dogecoin. He decides to sell on May 31st while still getting some value out of his initial investment.

We see that during that date, the market value of every Dogecoin was $0.02. The ending value of Serge’s investments was $40 as again you took the total number of those coins he owned at that date and multiplied it by the market value of the cryptocurrency at that date.

As we can see in this situation Serge did not make any money. He lost $60. Therefore the capital loss that he endured during that time is calculated by taking the ending value (or the amount it was sold for) and subtracting it by the initial cost of the investment, which we see as a $60 capital loss.

As I mentioned calculating crypto gains and losses isn’t necessarily difficult. And in some situations, maybe it will be. Still, for this particular instance, when you’re just buying some cryptocurrency and plan to hold it for a while and eventually sell it, this most often is the situation and calculation you will want to use.

For a brief moment, let’s look at the overall bigger picture of each of Serge’s situations and look at how it affects his taxable income. You’ll see that even capital losses aren’t all that necessarily bad.

how taxable capital gains from crypto tax affects taxable income
how allowable capital loss from crypto tax affects taxable income

Whenever Serge has suffered a loss in his investments, it isn’t necessarily bad, as you can see. Of course, our preference would undoubtedly be to experience a capital gain more often than you would a capital loss.

Yes, the capital loss does not entirely negate the taxes owing. Yet, at least in some cases, whenever we are in a loss situation in times, it can benefit and allow us to pay a little bit less in tax where applicable.

How Does Cryptocurrency Tax Work? / How Does Cryptocurrency Get Taxed?

All right, so now that we have covered the amount that you are to be taxed on, what about the capital gain tax on cryptocurrency?

Well, your taxed on 50% of your capital gains or your capital losses.

The idea is that whenever you have sold your position and know the capital gains, you’ll eventually be taxed on 50% same goes with the capital losses.

You won’t pay the tax right away. It’s instead added to your tax returns. So your capital gains or capital losses are added to your taxable income. Therefore, determine your tax bracket and you will be able to indicate how much you’ll pay in tax initially before credits. Determining your tax bracket may be complicated, so just guess what you think it is.

It is very similar to public securities like stocks or ETFs. You don’t pay the tax upfront; it’s usually just added to your tax returns and then, of course, depending on the number of credits and, of course, the tax before the credits, you may have to pay, or you might get some money back.

So put your tax on 50% of your capital gains or losses from the sale of your cryptocurrencies. It is crucial to include that on your tax returns and avoid tax evasion. 

I will also mention that for any tax advice, and you should seek professional help from a CPA or other tax professional. I am not a tax advisor, and nor will I give tax advice. This is strictly for entertainment/educational purposes only.

So there are a couple of different methods where you will need to pay cryptocurrency taxes, but Serge’s situation above is the typical method most will encounter.

As for the other methods, please review below as I will discuss others and provide examples there.

Can the Government Tax Crypto? Why Is There Income Tax on Cryptocurrency?

Photo by Katie Moum on Unsplash

The short answer to the first question there is obviously yes. I’m sure that answer comes at no one’s surprise.

However, to answer the second question, it comes down to the fact that all income that Canadians earn, whether here or abroad, is subject to taxes.

Maybe I shouldn’t say all income, but I will generally say that most income Canadian residents earn is subject to Canadian taxes. I’m not going to get into the specifications if you’re in the U.S. or other foreign countries and earn income there and whatnot because that’s not what the article is about.

But to give you a quick glimpse on the incomes you are taxed on is general income, so that’s the income you would earn if you’re an employee for a business, any capital gains on public securities or property, or property income, dividends, and more. I will leave a link here for the different types of income considered taxable for Canadian residents.

But as I ramble on about the incomes that the Canadian government considers taxable, I still have to answer the second question.

So the Canada Revenue Agency (CRA) considers income from cryptocurrency either as business income or as a public commodity. Any income generated by the cryptocurrency transaction will be regarded as either business income or capital gain. It depends on the situation.

If you have a business that might mine Bitcoin, for example, then obviously, any transactions with Bitcoin or any other cryptocurrency would be included as business income. You’ll be taxed on that at the special rate of your bracket.

As I mentioned before in my examples and the section on capital gains and losses of cryptocurrency, if you are just an investor in cryptocurrency, you will be taxed on either the gain or loss resulting from the sale.

Here’s a quote as to why it’s taxable:

“Taxpayers have to establish if a cryptocurrency activity results in income or capital because this affects the way the revenue is treated for income tax purposes.”

More information can be read here.

Long story short, you have to report it because it affects your revenues and, ultimately, your income. Since the CRA considers cryptocurrency either as business income or a commodity and there are taxes to pay on both, you’ll be taxed on cryptocurrency.

CRA Crypto Tax: Canadian Crypto Tax Laws

There are various Canadian crypto tax laws the CRA has established. Notably, it’s the different situations in which you may sell or gift cryptocurrency where as a result, you will pay tax on some amount.

Or, if you run a business surrounding cryptocurrency like your mining cryptocurrency or maybe your trading cryptocurrency, you may pay business income on that.

If any transaction is using virtual currency related to business activity, and you earn a gain, it probably would be treated as a capital gain.

Also, if you run a business surrounding cryptocurrency mining and cryptocurrency is part of your inventory, then there would be different standards and procedures related to that. So it’s best that if you are considering starting a business surrounding cryptocurrency, you contact a CPA, lawyer, and probably even the CRA. They can distinguish how to start it up and as well how to treat cryptocurrency as business income, inventory, investments, and even the tax rules.

The CRA considers different dispositions as taxable:

  • The sale or gifting of cryptocurrency
  • A trade or exchange of cryptocurrency for another cryptocurrency
  • Converting cryptocurrency to actual currency (i.e., Canadian dollars)
  • Using cryptocurrency to purchase a good or service

This guide to crypto tax is strictly for personal investors, not business owners conducting commercial activity relating to a cryptocurrency. What I will do is I will highlight a few situations and, of course, examples where individuals may have to pay taxes surrounding cryptocurrencies.

Standard Crypto Tax:

We will continue the two examples provided for calculating capital gains and capital losses on cryptocurrency.

calculating taxable capital gains related to crypto tax

Starting with the capital gains example from above, you’ll notice that calculating the number of capital gains that Serge will pay remains the same.

The only difference is the taxable capital gain that’s being calculated. For taxable capital gains and allowable capital losses, the rate you will use is 50%.

To calculate a taxable capital gain, you take the tax rate for those games and multiply it by the capital gain.

So, in this case, to determine the taxable capital gain, you take that 50% rate and multiply it by the capital gain. As we see here, it’s 50% multiplied by $900. We come to know that the amount that will be taxable on his tax reports is $450.

calculating allowable capital losses related to crypto tax

To calculate the allowable capital loss from your investments, it’s the same as calculating the taxable capital gain. You take the capital loss from the investment and multiply it by the 50% rate.

Now, if we look at the other example provided above, you’ll see that everything remains the same. However, we use the 50% to calculate the allowable capital loss, which is now $30.

If you are an investor in cryptocurrency, this is most likely the situation you will incur.

These calculations are pretty simple to calculate for yourself. As recommended above, be sure to track the initial cost of your cryptocurrency investment or any investment for that matter. That way, you’ll be able to determine how much money you’ve made or how much money you’ve lost from your investment and can determine the taxable amount.

Let’s look at some other examples.

Gifting Cryptocurrency Tax:

As briefly eluded above, different disposition methods may, as a result, have you pay tax, which means there’s a possible cryptocurrency gift tax.

Gifting cryptocurrency to someone else can be considered a disposition, and as a result, the gift or could have tax attached to it.

Let’s have a look at a possible situation where someone has gifted Bitcoin to their friend.

cryptocurrency gift taxes on capital gain

Serge, on June 30th of 2014, decided he was going to invest in some Bitcoin. He’s seen the potential rise of Bitcoin in society and decided he wanted to get on the train before it took off further.

On that day, he purchased 2,000 Bitcoin for $100 each, which meant his cost of the investment was $200,000.

Serge waited a considerable amount of time. He waited seven years until he decided that he would gift this Bitcoin to his friend. The reason? Serge instead felt that stonks was the way of the future and not cryptocurrency any longer. The crypto fad has passed.

On November 30th of 2021, the price of each Bitcoin was $1,000. This meant that the market value of his investment was $2 million.

His friend suddenly became a millionaire overnight.

But as a result of gifting his friend the Bitcoin and disposing of it, he now has the capital gain from the disposition. As you can see, it’s calculated by taking the market value of the investment on the disposition date and subtracting it from the cost of the original investment.

The capital gain is $1,800,000. As we’ve known from the previous example above, we know the tax rate for capital gains is 50%.

All this means is that Serge will report an extra $900,000 taxable capital gain on his tax returns for the year.

By now, you can predict the outcome if we look at an example where instead of Serge having a taxable capital gain, he has an allowable capital loss.

cryptocurrency gift taxes on capital loss

To quickly go over it, this time, whenever Serge has gifted his friend the Bitcoin, it’s now worth $100,000.

The allowable loss is taken by subtracting the $100,000 from the original investment cost, which was $200,000.

Since the rate we use to calculate allowable capital loss is 50%, 50% applied to $100,000, would result in him having a allowable capital loss of $50,000.

Remember, these are two possible situations that can arise from gifting any cryptocurrency. I am not guaranteeing that if you gift cryptocurrency to someone, this will be the tax implications. You should speak to a CPA or tax advisor for any tax advice.

Exchanging Cryptocurrency Tax:

Another disposition method that the CRA may consider taxable is whenever you trade one cryptocurrency for another.

I initially didn’t know this at first myself and found it very surprising that this is a possible situation that you could be taxed on. To best explain how the situation works, let’s look at two examples. I found it most beneficial for me to learn the amount you would be taxed on if you decide to exchange cryptocurrency through examples.

cryptocurrency exchange capital gain tax

Serge decides to buy Bitcoin on March 31st of 2015. He buys 15 Bitcoin for $1,000 each, which means the total cost at that time is $15,000 for the total investment in Bitcoin.

He decides to hold it for several years. On December 31st of 2021, Serge then decides that instead of selling the Bitcoin, he would exchange it (trade it) for XRP.

At that time, XRP was trading for around $1.10 each. His total Bitcoin investment also Rose an additional $7,000 to $22,000 over the course of those several years.

Search decided to trade all of his Bitcoin for XRP, meaning Serge would purchase $20,000 worth of XRP for the total investment in Bitcoin he had.

As a result of the exchange there still are taxable capital gains from the trade that will need to be paid.

The capital gain from The exchange itself is calculated by taking the total current market value of the investment in the original cryptocurrency and subtracting it by the initial value of that same crypto.

The value of the Bitcoin investment was $22,000 when Serge decided to trade it. As we know, the original investment in Bitcoin was $15,000. Therefore, there’s a capital gain of the exchange of $7,000.

With the tax rate for capital gains being 50%, the taxable capital gain from the exchange will equal $3,500.

cryptocurrency exchange capital loss tax

On the flip side, on December 31st, 2021, Bitcoin decreased. Serge lost $5,000 on its investment. At the time, XRP was not worth a $1.10 each. Instead, it was worth $0.50 each.

Serge bought the same XRP, that being 20,000 instead for $10,000. Again he used all his Bitcoin in exchange for the new XRP.

As a result, there was a capital loss calculated by taking the current market value of the total Bitcoin investment and subtracting it by the original investment in Bitcoin.

The rate is 50% to calculate allowable capital losses, and since there’s a capital loss of $5,000 on the trade, the allowable capital loss Serge will be able to report on his tax returns is $2,500.

This may seem a little bit confusing initially, but that’s why I included the example because sometimes it’s better to view the potential situation and what amount you would be taxed on.

So the amount that is subject to tax comes from the current market value of the original cryptocurrency investment(s) at the time of the exchange. Then you will subtract that amount by the initial investment of cryptocurrency.

Once you look over both of the examples provided a couple of times, I’m sure you’ll understand how it is calculated.

Cryptocurrency Mining Taxes:

Out of curiosity, I thought I would do just a little research to determine any special taxes related to cryptocurrency mining.

Based on what I have found, there isn’t any. Your taxes on cryptocurrency mining depends on if you’re doing it as a business or if you’re doing it as a hobby.

If you’re doing it as a business, then whenever you have mined some cryptocurrency like Ethereum, you will not be subject to pay tax on it initially. This is because when you’re holding the Ethereum, it is considered a part of your inventory which may be subject to special deductions or evaluation rules and standards through the CRA.

Whenever you sell that inventory, it will be subject to be included as business income, and then, later on, it will be included in your business tax claims. Of course, if you’re running a cryptocurrency mining business, you may be able to deduct certain expenses from mining each Bitcoin, Ethereum, or whatever cryptocurrency you are mining.

Equipment may be subject to depreciation which, of course, you can claim that as an expense.

As well inventory evaluations may gain you some extra deductions on the taxable income for the business. It depends mainly on the cost of the inventory and the fair market value of the inventory. Typically if the fair market value of the inventory at year-end is below the cost of the inventory, then that is when the business may be able to claim some deductions. However, this may vary, and of course, consultation of the CRA, other tax advisors, and lawyers for more information is advised.

Instead, suppose you are mining cryptocurrency as a hobby. In that case, the sale of cryptocurrency will result in a capital gain or capital loss depending on the initial cost to mine it. For examples on calculating capital gains and capital losses, you can look above under that specific section on where it was discussed.

Here is a link to the page where I found information based on taxes for cryptocurrency miners.

Which Country Has No Tax on Cryptocurrency?

Currently, some countries require no tax being paid on trading Bitcoin at the time of this writing.

These countries may have other requirements related to cryptocurrency. For example, governments may have a tax on the business use of cryptocurrency and bitcoin, i.e., selling goods or services for cryptocurrency and being taxed on that exchange.

Let’s look at a list of six countries where people can buy and trade bitcoin tax-free.

Uzbekistan:

Since September 2nd of 2018, those located within this country can trade cryptocurrency tax-free. As well, mining cryptocurrency in that country is also tax-free. This country is probably the only country listed here that offers no taxes surrounding cryptocurrency, not just Bitcoin.

Portugal:

Portugal is another country that does not require you to pay taxes on cryptocurrency sales. However, if you are doing crypto trading professionally, you will have to pay taxes. If the primary source of your income is as a professional cryptocurrency trader; then, you may be subject to Portuguese tax.

Gains obtained from the exchange of cryptocurrency for actual/real currency are subject to tax. Providing services to obtain cryptocurrency may also be taxed. As well as for any gains from the sale of products or services paid for in cryptocurrency.

However, suppose you are just an investor and cryptocurrency. In that case, you will be able to enjoy your significant growth tax-free, but any devastating losses you will not be able to take advantage of on your tax returns.

Slovenia:

In Slovenia, Bitcoin is not considered either a currency or an asset. As a result, the government charges no capital gains tax on this type of cryptocurrency. However, it must be noted that Bitcoin mining will be taxed, and a business that sells services or goods for Bitcoin / in Bitcoin will also be taxed.

Belarus:

In this country, since the purchasing and sale of Bitcoin is not considered an entrepreneurial activity, it is therefore not subject to declaration and therefore is not taxable.

In some cases, revenues and profits from operations with cryptocurrency may be excluded from taxable income and/or taxes.

Germany:

Germans are not taxed on their digital currency as the government considers it private money, not a foreign currency or e-money. So any gains or losses will not be subject to the declaration on individuals’ tax returns.

Any transactions or purchases made with cryptocurrency must pay tax on those transactions.

Switzerland:

The Federal Council of Switzerland states that since virtual currencies are not in a legal vacuum, there is no need for any legal or legislative measures to be taken. So with that, it’s my understanding that for individuals who trade cryptocurrency, their gains would not be taxed.

It’s interesting to note, though, that in Switzerland, you can use Bitcoin to pay city fees, so it’s paying for railway fares as a company there in that country will sell bitcoins at a ticket machine. This seems to be an attempt to continue their advancements and technology and become even more sustainable digitally.

Which may mean the future is now in Switzerland.

Most of this information has been found via Wikipedia. The only exception is the information related to Poland. For the page describing the legality of Bitcoin and each country and territory, click here.

Can You Trade Crypto Tax Free?

The short answer here is no if you are located within Canada or the United States, there is no such thing as tax free crypto trading. If you are in a country listed above or any other country not mentioned that offers tax free trading of Bitcoin. You do not.

Suppose you choose not to report any taxable capital gains on your tax returns within Canada or the United States or elsewhere where it is required to do so. In that case, you can be considered committing tax evasion, which will bring penalties and fines.

How Can You Avoid Paying Taxes on Cryptocurrency?

So, if you can’t trade any cryptocurrency tax-free, are there ways where you can avoid paying taxes on cryptocurrency?

There are a few ways to still invest within cryptocurrency but avoid paying the tax.

The first way is by investing in a Bitcoin ETF. There are now a few ETFs that are centered around Bitcoin that have been just developed recently. If you do some more research, you may find other ETFs now being offered that hold various other cryptocurrencies.

The advantage of holding an ETF is that you can hold this type of security in an account, such as a tax-free savings account, which will allow you to avoid paying any tax on gains or other types of income.

While with any Bitcoin ETF you’re not investing in the cryptocurrency directly, it does allow you to avoid paying some significant tax on the volatility that this type of cryptocurrency can provide. However, it must be said that the returns of Bitcoin and its volatility may not be replicated with the ETF. If Bitcoin increases by a significant amount like 20%, the ETF may not increase by that high of an amount, and maybe it could only increase by 10%, for example.

So by avoiding paying potentially large amounts of capital gain tax on cryptocurrency, you may be potentially missing out on large amounts of capital gains by investing in the ETF version. I guess we can consider it a pick your poison situation.

Another way to avoid paying the high amount of taxes on your capital gains from cryptocurrency would be to offset it using capital losses.

This way of decreasing your tax bill is not necessarily easy, and as a result, you could lose much money through your losses. So, therefore, I’m not necessarily going to elaborate on how you can do it. Instead, I would advise you once again to talk to a professional about this sort of thing.

But the idea behind it is that if you have many losses from other investments, maybe rental properties, or have a high amount of credits. It will reduce the amount of taxable income you have or ultimately decrease your tax bill.

One more way you can avoid paying taxes on cryptocurrency is to become a resident of a country where you don’t have to pay taxes on crypto gains.

To become a resident of a specific country, you will need to meet particular requirements, and therefore, you will have to do your own independent research.

If you are a Canadian resident, you may have to look into additional ways to drop your Canadian residency and be a primary resident of a specific country that is a cryptocurrency tax haven.

While this method is not the most ideal to avoid paying large amounts of crypto gain taxes, there aren’t too many methods for you to reduce or pay zero taxes on gains.

You cannot hold cryptocurrency directly in your TFSA, yet the closest thing to it is public security, like an ETF that directly holds the cryptocurrency.

Crypto Tax Meme:

I can tell this was the highly coveted section of this entire article.

Let’s have a look at a crypto tax meme and laugh together.

Conclusions:

That does it for this crypto tax guide.

It isn’t difficult to calculate your capital gains or losses from your cryptocurrency investments, especially for your Dogecoin investments. It goes the same for calculating your taxable capital gains or allowable capital losses.

The different situations in which you may be taxed on cryptocurrency, not just by buying and selling it, I’m sure we’ll surprise a few.

As I mentioned before, I didn’t know that was such a thing initially before I read upon it.

Most of the information relating to this article was taken from the government of Canada’s page about crypto tax. Here is the link if you want to read more upon it and find additional links for resources available to you or more information on different topics.

Well, some of us may have a large number of capital gains and, therefore, a large number of actual capital gains to pay; just know that it’s not going to be easy to lower that amount of taxable income you will report and your tax on crypto gains.

Yet, I do hope that you find this article helpful and learn something new from it. And remember to report your crypto gains on your tax software, when your filling out written forms, or provide the information to your tax advisor, among other applicable situations.

I want to remind you that I am not a professional CPA nor a tax advisor. For any advice on crypto taxes or any other type of tax, you should seek professional aid.

What surprised you the most when reading this article? Please let me know down below in the comments, and feel free to share your thoughts about cryptocurrency as well.

Thanks for reading. Stay tuned for more articles, and feel free to subscribe to our email list to be notified when new articles are live and when giveaway contests occur.

Disclaimer: I am not a financial or tax advisor. You are trading at your own risk and should consult a financial and tax advisor for any investment decisions and decisions that affect tax returns. Do your own due diligence when considering investing, and this information is for education/informational purposes only. The article “12 Things To Know About Canadian Crypto Tax In 2021” serves as educational content, not investing or tax advice.

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