Yes. The CRA treats cryptocurrency as a commodity, and most dealings with it have tax effects.
When is a crypto tax event triggered?
- Selling crypto for dollars.
- Trading one coin for another.
- Spending crypto on goods or services.
Each of these is a disposition. The difference between what you got and what you paid, the adjusted cost base, is a capital gain or loss. Half of a capital gain is included in your income.
When is it business income?
If you trade often, use a system, or mine as a business, the CRA may treat the profit as business income, which is fully taxable. Mining and staking rewards are generally income when you receive them.
What records do you need?
The date, amount, value in Canadian dollars and the cost for every transaction, including fees. Many people use exchange exports and a spreadsheet. Report gains on Schedule 3 of your return.
Can you deduct losses?
Capital losses can offset capital gains, and you can carry unused losses back three years or forward without limit. The capital gains tax calculator shows the effect.
For other payments, see the table on Is it taxable? and the income tax calculator.
Where does this information come from?
The treatment comes from the Canada Revenue Agency capital gains guidance and its cryptocurrency pages. Rules for crypto change, so read the current CRA page. Checked in October 2026. This is an independent information site: we provide no services, we do not represent the CRA or any organization, and we do not guarantee that anything here is accurate or current. We accept no liability for decisions based on it. Check the official source before you rely on it. See the full disclaimer.