Crypto Exchanges

Crypto Taxes in Canada 2022 EXPLAINED! #criptocurrency #cripto





Crypto Taxes in Canada 2022 EXPLAINED |
So you’ve been hodling your crypto for a while and this year you’ve finally sold some and realized some crypto gains…

Hopefully while crypto was at or near an all time high!

Firstly, congrats! Secondly, have you prepared to pay taxes on your crypto?

Crypto is a relatively new asset, and governments around the world classify crypto differently when it comes to taxes, and crypto taxes in Canada are different from other countries like the US.

In this video I’m explaining how crypto taxes in Canada work, when your crypto is taxed, when your crypto is NOT taxed, and how to keep track of your crypto transactions for taxes without the stress, so you can be prepared when tax season comes along — and AVOID getting hit by an unexpected tax bill.

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RESOURCES MENTIONED:
► Koinly: https://koinly.io/?via=213D62BD
► Token Tax: https://tokentax.co/
► Shakepay (Get $30 when you sign up 🇨🇦): https://shakepay.me/r/BO20065
► Newton (Get $25 when you sign up🇨🇦): https://web.newton.co/r/EQFECH
► How I keep my crypto safe – Ledger Nano S: https://shop.ledger.com/products/ledger-nano-s?r=4d32fafdcd03

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*Some of the links provided here are affiliate links, which means I may earn a small commission when you click at no additional cost to you.

TIMESTAMPS:
0:00 – Intro
1:02 – CRA classification of crypto
1:52 – Capital gains or business income?
2:30 – Ontario example
4:01 – Taxable events
5:02 – What you need to report
6:03 – Crypto tax software
8:19 – Newton

Music from Uppbeat (free for Creators!):
https://uppbeat.io/t/mountaineer/fly-away
License code: 2REMTIJIA99BGDFP

#cryptotaxescanada #cryptotaxes #cryptotaxcanada #cracrypto

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