Month: January 2018

Cryptocurrency and Taxes

While merely holding bitcoin, dash, or other cryptocurrency does not give rise to tax, the sale will result in a capital gain or full income inclusion. The use of bitcoin in a transaction will also be considered a disposition for Canadian income tax purposes and will result in income that has to be reported.  If you sell digital currency in 2017 your profits will have to be declared when you file your 2017 tax return by April 30, 2018.