Frequently Asked Questions

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Everything you need to know about crypto tax in Canada and how CryptoTaxCA can help you file with confidence.

Crypto Tax in CA
Do I have to pay tax on my crypto in Canada?
Yes. The IRD treats cryptocurrency as property, not currency. If you buy and sell crypto with the intention of making a profit, those gains are taxable as income. This applies to most active traders and even some long-term holders depending on intent. Failing to report crypto income can result in penalties and interest from the IRD.
What counts as a taxable crypto event in CA?
Taxable events include selling crypto for CAD, trading one cryptocurrency for another (e.g. BTC to ETH), spending crypto on goods or services, receiving crypto as income or payment, staking rewards and DeFi income, and in some cases receiving airdrops. Simply holding crypto is generally not a taxable event, but buying or transferring between your own wallets is not taxable either.
What is the tax rate on crypto gains in Canada?
Crypto gains are taxed as ordinary income in Canada, at your personal income tax rate. Rates range from 10.5% up to 39% depending on your total income for the tax year. There is currently no separate capital gains tax rate in CA — gains from crypto are treated the same as other business income.
Does the IRD know about my crypto activity?
Increasingly, yes. Canada is a participant in international information sharing frameworks, and major exchanges operating in CA are subject to reporting obligations. The IRD has also issued guidance specifically on crypto taxation and has been auditing taxpayers with unreported crypto income. We always recommend full disclosure — it's far less costly than penalties down the track.
Our Service
How does the CryptoTaxCA process work?
It's simple. Fill in our online form with your details and we'll be in touch within 24 hours. Our specialist will walk you through what information we need — typically your exchange transaction history and wallet addresses. We then calculate your gains, prepare your IRD-ready report, and send it back to you ready to file. The whole process usually takes 2–5 business days.
Which exchanges and wallets do you support?
We support all major exchanges including Binance, Coinbase, Kraken, Bybit, OKX, Independent Reserve, Easy Crypto CA, and many more. We also handle hardware wallets (Ledger, Trezor), software wallets (MetaMask, Trust Wallet), and DeFi platforms on Ethereum, Solana, and other chains. If you're unsure whether we can handle your specific setup, just ask — we can almost always accommodate it.
Is my financial information secure with you?
Absolutely. We take data security extremely seriously. All information you share with us is encrypted in transit and at rest using industry-standard AES-256 encryption. We never share your personal or financial data with third parties, and our systems are regularly reviewed for security vulnerabilities. We only require read-only access to your exchange data — we never need your passwords or withdrawal permissions.
Can you help with previous tax years?
Yes. We can prepare tax reports for previous tax years going back as far as your transaction history allows. If you've fallen behind on your crypto tax obligations, it's better to come forward voluntarily — the IRD's voluntary disclosure programme can significantly reduce penalties. We can help you get everything sorted.
How much does it cost and are there any hidden fees?
Our pricing starts from $149 for the Starter plan — roughly half what most CA providers charge. There are no hidden fees. What you see on our pricing page is what you pay. If your situation turns out to be more complex than the plan you selected, we'll discuss it with you upfront before any additional charge is applied.
Do I need to be a Canada resident to use your service?
Our service is specifically designed for Canada tax residents — people who are required to file an CA tax return. If you've recently moved to or from CA and have crypto activity in both countries, we can help with the CA portion and advise on what you may need to handle offshore.
What if I only made a loss this year?
You should still file a return! Crypto losses can potentially be offset against other income or carried forward to future tax years, reducing what you owe later. Documenting losses correctly is just as important as reporting gains. Our service covers loss reporting as part of every plan.

Still have questions?

Our team of CA crypto tax specialists is happy to help. Fill in your details and we'll get back to you within 24 hours — no obligation, no sales pressure.

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