Exchange fees, gas fees, transfer fees, etc.
Employment or other income to determine your marginal tax rate.
Capital Gain
$29,500.00
Taxable Gain (50.0%)
$14,750.00
Estimated Tax
$4,373.38
Effective Rate
14.8%
Net Proceeds
$25,126.63
Inclusion Rate
50% (flat)
Your Effective
14.8% Tax
Everything you need to know about cryptocurrency taxation by CRA
CRA treats cryptocurrency as a commodity, not a currency. Dispositions of crypto (selling, trading, gifting, or using to purchase goods/services) are generally subject to capital gains tax. The taxable portion is 50% of your gains (for 2026). The previously proposed increase to 66.7% for gains over $250,000 was cancelled in March 2025. If you are trading crypto as a business (frequent trading, short holding periods, speculative intent), CRA may treat your gains as business income, which is 100% taxable.
For the 2026 tax year, capital gains are included at 50% (i.e., half is taxable). The previously proposed two-thirds inclusion rate for gains over $250,000 was cancelled by PM Carney in March 2025, so all capital gains use the flat 50% inclusion rate.
Yes. Cryptocurrency received from mining is generally treated as business income if done commercially, or as a hobby if done casually. Staking rewards are also taxable. The fair market value of tokens received at the time of receipt is your income amount. If you later sell mined or staked tokens for more than their FMV at receipt, the additional gain is a capital gain. Keep records of the FMV at the time you receive each mining/staking reward.
NFTs (Non-Fungible Tokens) are treated similarly to other digital assets. Creating and selling NFTs may generate business income. Buying and later selling NFTs at a profit generates capital gains. The determination between business income and capital gains depends on your intent, frequency of transactions, and holding period. Artists who create and sell NFTs should report income as self-employment income.
CRA requires detailed records of every cryptocurrency transaction including: date of transaction, type of transaction (buy, sell, trade, receive), quantity of crypto involved, fair market value in CAD at the time of transaction, exchange or wallet used, transaction fees, and running adjusted cost base (ACB) for each type of crypto. Keep these records for at least six years from the end of the tax year. Many crypto tax software tools can import exchange data and calculate your ACB automatically.
Yes. Capital losses from crypto dispositions can offset capital gains in the same year. If your total capital losses exceed your gains, you can carry the net capital loss back three years or forward indefinitely to offset capital gains in those years. However, capital losses cannot be used to offset other types of income (like employment income). Be aware of the "superficial loss" rule: if you repurchase the same crypto within 30 days before or after selling at a loss, the loss may be denied.
Yes. If you disposed of cryptocurrency during the tax year, you must report it on Schedule 3 (Capital Gains/Losses). Even if you have a net loss, reporting is important to preserve the loss for future use. CRA has been actively requesting data from Canadian crypto exchanges and has sent compliance letters to taxpayers. Failure to report can result in penalties of up to 50% of unpaid tax plus interest.
DeFi activities like yield farming, liquidity provision, and lending generally create taxable events. Tokens earned as yield are taxable income at their FMV when received. Airdrops are also taxable at their FMV when received, though the tax treatment depends on whether you did anything to earn them. Each swap in a DeFi protocol is a separate disposition. The complexity of DeFi makes meticulous record-keeping essential.
CRA-Aligned: This calculator uses official CRA capital gains inclusion rates for the 2025 tax year. Cryptocurrency tax is complex and fact-specific. Consult a tax professional for personalized advice.
Disclaimer: This calculator provides estimates based on current CRA rates and thresholds for the 2025 tax year. It does not constitute professional tax, financial, or legal advice. Your actual liability may differ depending on your individual circumstances. Always consult a qualified accountant before making financial decisions. Read our terms
Related Calculators
Salary Calculator
Calculate your Canadian take-home pay after federal tax, provincial tax, CPP, and EI.
Capital Gains Tax Calculator
Calculate CGT with 50% inclusion rate (66.7% over $250K) on capital gains.
Dividend Tax Calculator
Calculate tax on eligible and non-eligible Canadian dividends with gross-up and DTC.
Foreign Income Tax Calculator
Calculate tax on foreign income with Foreign Tax Credit (FTC) offsets.
Investment Income Calculator
Compare tax on interest, eligible dividends, and capital gains.
Self-Employed Tax Calculator
Federal + provincial tax plus both CPP portions on self-employment income.