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Do I Have to Report Crypto to the CRA? 🇨🇦🪙💰 (What Triggers Tax)

📝 Description / Script (read on-camera or paste under the video)

💰💸 SHORT ANSWER: If you dispose of crypto — sell, swap, spend, convert, or earn it — there’s usually a tax event in Canada. 🧾🏛️

What counts as a taxable event?

• 💱 Selling crypto for CAD or USD

• 🔄 Swapping one coin/token for another (crypto-to-crypto is still a disposition)

• 🛒 Using crypto to buy goods/services

• 🧩 Converting to stablecoins

• ⛏️🪙 Mining, staking, airdrops, referrals (often income when received)

How is it taxed?

• 📈 Capital gains (most personal investing): 50% of the gain is taxable.

• 🧑‍💼 Business income (frequent/trading-as-business): 100% taxable as income.

• 📉 Capital losses can offset capital gains.

Keep solid records (6 years):

• 📅 Date/time • 🪙 Quantity/tx hash • 💱 Pair/venue • 💵 CAD value at time • 💳 Fees

Tip: use reputable tracking software and export reports. 🧠📊

Why you shouldn’t “just not report”:

• 🔍 CRA can request data from exchanges, issue info “requirements,” and use third-party orders.

• 🌐 Exchanges and payment platforms increasingly share data under compliance frameworks.

• 🚫 Penalties and interest for non-compliance can cost more than reporting correctly.

Pro move: File on time, correct past years if needed, and get advice on ACB (Adjusted Cost Base), capital vs. business, and loss optimization. 🧾🛡️

👨‍⚖️ This is general information, not legal or tax advice. Talk to a Canadian tax pro for your situation.

🌐 Work with my team: www.KevinJJohnston.com

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#CanadaRevenueAgency #CryptoTax #CRACrypto #IncomeTax #CorporateTax #Calgary #TaxTipsCanada #Bitcoin #Ethereum #Web3