Crypto tax in Canada

STATUS: TAXABLE, TREATED AS A COMMODITY

    Tax authority: CRA
    As of: June 2026
    Last reviewed: March 8, 2026
  

This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.

Quick answer

The Canada Revenue Agency (CRA) treats crypto as a commodity, not currency, as of March 2026. Disposing of crypto is generally either a capital gain, of which half is taxable under the 50 percent inclusion rate, or business income, of which the full amount is taxable, depending on your facts. Mining and staking rewards can be income at their value when received. This is general information, not tax advice.

How the CRA taxes crypto in Canada

Not tax advice, verify before filing

The Canada Revenue Agency (CRA) treats crypto as a commodity rather than as currency, a position current to June 2026. That means tax is not triggered simply by buying and holding crypto. Tax usually arises when you dispose of it or receive it as income. The reporting duty sits with the taxpayer, and you report through your annual income tax return regardless of whether a platform issues you a slip.

Capital gains versus business income

Disposing of crypto, by selling it for Canadian dollars, swapping one token for another, or using it to pay for goods or services, is generally either a capital gain or business income depending on the facts. Where it is a capital gain, only half is taxable under the 50 percent inclusion rate, and that half is added to your income and taxed at your marginal rate. Where trading is frequent and commercial enough to be a business, the full amount of the profit is taxable as business income. The CRA looks at factors such as frequency, intention, and the nature of the activity to decide which treatment applies. This position is current to June 2026.

The inclusion rate

The capital gains inclusion rate is 50 percent as of March 2026. A proposed increase that would have raised the inclusion rate above 250,000 dollars of annual gains was announced in 2024 and then cancelled in 2025, so the rate remains 50 percent for now. Because tax measures can change with each federal budget, confirm the current inclusion rate with the CRA before you file.

Crypto to crypto trades

A trade of one crypto asset for another is generally a disposition of the asset you give up, valued in Canadian dollars at the time of the trade. A gain or loss can arise even though you never converted to fiat. Keeping records of the Canadian dollar value at each trade is important for working out your gain or loss accurately. This is current to June 2026.

Mining, staking, and crypto received as payment

Crypto received from mining, staking, or as payment can be income, with the value at receipt becoming the cost base for a later disposition. In an interpretation dated 17 January 2025, the CRA stated that depositing or staking crypto on a registered platform is not itself a disposition, and that staking rewards are taxable as income when they are credited, with whether they are business or property income depending on the taxpayer's facts. Mining can be a business or a hobby depending on scale and intention, which affects how it is taxed. These positions are current to June 2026.

GST and HST

Goods and services tax or harmonised sales tax can apply when crypto is used to buy taxable goods or services, in the same way as a barter transaction. The treatment of crypto for sales tax can be technical, so confirm your situation with a qualified adviser. This is current to June 2026.

Reporting under the Crypto Asset Reporting Framework

CRA administered reporting under the international Crypto Asset Reporting Framework took effect on 1 January 2026. This expands the information that crypto service providers collect and report about users and transactions, bringing crypto closer to the reporting that already applies to traditional financial accounts. It does not change your underlying obligation to report your own gains and income through your annual income tax return. Verify the current requirements with the CRA.

How to act legally in Canada

Clean records make tax reporting far easier. Buying and selling on a platform that is registered with the securities regulators and FINTRAC and serves Canadians gives you transaction histories you can rely on. Several platforms operate for Canadian residents as of March 2026, including Coinbase, Kraken, Bitbuy, Newton, Shakepay, NDAX, and Wealthsimple Crypto. Keep your own records too, and confirm your tax treatment with a qualified Canadian tax professional before filing.

Act legally in Canada

Compare exchanges available to Canada users

Registered platforms that operate for Canadian residents include Coinbase, Kraken, Bitbuy, Newton, Shakepay, NDAX, and Wealthsimple Crypto. See the available options side by side, then verify securities and FINTRAC registration and the current position before you sign up.

Compare available exchanges

Regulator and sources

Canada Revenue Agency (CRA) guidance treating crypto as a commodity, with capital gains or business income, current to June 2026.
CRA Income Tax Rulings interpretation dated 17 January 2025 on staking and deposits on registered platforms.
Crypto Asset Reporting Framework CRA administered reporting effective 1 January 2026.
Department of Finance Canada federal budget announcements on the capital gains inclusion rate.

Frequently asked questions

How is crypto taxed in Canada?

The Canada Revenue Agency treats crypto as a commodity, not currency, as of March 2026. Disposing of crypto is generally either a capital gain, of which half is taxable under the 50 percent inclusion rate, or business income, of which all is taxable, depending on the facts. Mining and staking rewards can be income. This is not tax advice, so verify before filing.

What is the crypto capital gains inclusion rate in Canada?

The capital gains inclusion rate is 50 percent as of March 2026, so half of a capital gain is added to your income and taxed at your marginal rate. A proposed increase above 250,000 dollars of annual gains was announced in 2024 and then cancelled in 2025. Confirm the current rule with the CRA.

Is swapping one crypto for another taxable in Canada?

Generally yes. The CRA treats a crypto to crypto trade as a disposition of the asset you give up, valued in Canadian dollars at the time, so a gain or loss can arise even though you never touched fiat. This is not tax advice, so verify before filing.

Are mining and staking rewards taxed in Canada?

They can be. The CRA generally treats rewards as income at their fair market value when you gain control of them, and a later disposal is a separate taxable event. For staking on a registered platform, a 2025 CRA interpretation stated the rewards are income when credited. This is not tax advice.

Does Canada have new crypto tax reporting rules?

Yes. CRA administered reporting under the international Crypto Asset Reporting Framework took effect on 1 January 2026, which expands the information that crypto service providers report. You still report your own gains and income through your annual income tax return. Verify the current requirements with the CRA.

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Risk and change note: tax rules change frequently, often with each federal budget, and the application to crypto can be technical. The positions above carry an as of date and were last reviewed on June 21, 2026. Confirm the current rules with the Canada Revenue Agency and a qualified tax professional before you file.

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