Cryptocurrency Q&A
Is crypto tax-free in Canada?
Is crypto tax-free in Canada?
CryptoPioneer
Fri Feb 21 2025
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6
answers
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I'm wondering if cryptocurrency is tax-free in Canada. I've heard mixed opinions on this and would like to get a clear answer.
6 answers
Carlo
Sun Feb 23 2025
In Canada, the taxation of cryptocurrency holds specific regulations.
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SumoMight
Sat Feb 22 2025
Furthermore, Canadian traders can leverage their capital losses to reduce their overall tax bills.
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Martino
Sat Feb 22 2025
For individuals engaging in cryptocurrency trading, there are conditions under which they may not be liable for capital gains tax.
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DavidJohnson
Sat Feb 22 2025
It's worth noting that capital losses, while useful for tax reduction, are subject to the 50% rule for capital gains. This means only half of the capital loss can be used to offset capital gains.
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ethan_harrison_chef
Sat Feb 22 2025
Specifically, if a person incurs losses while trading crypto, they are exempt from paying capital gains tax on those losses.
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