MINE. BUY. SPECULATE.
- Do you receive cryptoassets from your mining business?
- Have you bought something, such as a cellphone, using cryptoassets?
- Do you buy and sell cryptoassets regularly to profit when their value rises?
To learn about the tax implications of cryptoassets, see our pages on the subject.
True or false?
False! Your cryptoasset transactions leave a trail. Even if your personal information isn’t kept in a conventional register, all your transactions are recorded in a blockchain. This means that your transactions have a unique signature that can be used to identify you.
False! In your annual income tax return, you must include all your income—whether it’s a gain from various investments, the sale of stocks or cryptoasset transactions.
In addition, since 2024, you have been required to complete a Cryptoasset Return (form TP-21.4.39-V) to report income (or losses) from cryptoassets and file it with your income tax return.
Unlike transactions with traditional financial institutions (banks, credit unions, caisses, etc.), you won’t get information slips for your cryptoasset transactions each year. It is up to you to keep a record of your transactions so that you can report your income and losses in form TP-21.4.39-V and include them in your next income tax return.
False! Cryptoasset losses can be deducted under special rules when calculating your income.