What is the capital gains tax rate for cryptocurrency in Canada?

3 answers

• Pierce RodeDec 05, 2023 · 2 years ago
  The capital gains tax rate for cryptocurrency in Canada depends on your individual tax bracket. If you are in the lowest tax bracket, the rate is 0%. For those in higher tax brackets, the rate can range from 15% to 33%. It's important to consult with a tax professional to determine your specific tax rate based on your income and other factors.
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• Mostafa BozaraziJun 02, 2022 · 3 years ago
  In Canada, cryptocurrency is considered a commodity and is subject to the same tax rules as other investments. The capital gains tax rate for cryptocurrency is based on your taxable income and can range from 15% to 33%. It's important to keep track of your cryptocurrency transactions and report them accurately on your tax return.
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• jorge ngonga jotaJan 29, 2024 · 2 years ago
  According to BYDFi, a leading cryptocurrency exchange, the capital gains tax rate for cryptocurrency in Canada is determined by your individual tax bracket. The rates can vary from 15% to 33% depending on your income level. It's crucial to consult with a tax professional to ensure you are accurately reporting your cryptocurrency gains and paying the appropriate taxes.
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