CRA Crypto Guidance

The Canada Revenue Agency (CRA) publishes guidance on how it taxes cryptocurrency, and it is the starting point for any Canadian miner or holder trying to file correctly. The CRA generally treats cryptocurrency as a commodity for income-tax purposes, not as legal-tender currency. This is general information, not tax advice; the guidance is interpretive and your facts govern the outcome.

The core positions

The CRA's guidance establishes several anchors. Disposing of crypto — selling, swapping, spending, or gifting — is a taxable event measured at fair market value in CAD. Gains are either capital gains (50% inclusion) or fully taxable business income, depending on whether you are investing or trading as a business. Identical units must be pooled using the adjusted cost base averaging method. Mining is assessed as a business or a hobby on a case-by-case basis.

Why it keeps changing

Crypto tax guidance evolves: the CRA refines its interpretations, and Parliament has separately layered on rules such as the GST/HST measures for mining. Record-keeping expectations are also rising, with exchanges increasingly reporting to the CRA. Because guidance is not the same as black-letter law and can be updated, always check the current published version before filing.

For a practical, mining-focused walkthrough, see our Bitcoin mining tax guide, and engage a Canadian tax professional for anything material.