Crypto Taxes in Canada 2022 EXPLAINED!
Crypto Taxes in Canada 2022 EXPLAINED |
So you’ve been hodling your crypto for a while and this year you’ve finally sold some and realized some crypto gains…
Hopefully while crypto was at or near an all time high!
Firstly, congrats! Secondly, have you prepared to pay taxes on your crypto?
Crypto is a relatively new asset, and governments around the world classify crypto differently when it comes to taxes, and crypto taxes in Canada are different from other countries like the US.
In this video I’m explaining how crypto taxes in Canada work, when your crypto is taxed, when your crypto is NOT taxed, and how to keep track of your crypto transactions for taxes without the stress, so you can be prepared when tax season comes along — and AVOID getting hit by an unexpected tax bill.
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0:00 – Intro
1:02 – CRA classification of crypto
1:52 – Capital gains or business income?
2:30 – Ontario example
4:01 – Taxable events
5:02 – What you need to report
6:03 – Crypto tax software
8:19 – Newton
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