Free Canada Crypto Tax Calculator

The Canada Revenue Agency (CRA) treats cryptocurrency as a commodity, not as currency. When you dispose of crypto — by selling it, trading it for another crypto, or using it to purchase goods or services — you may realize a capital gain that is subject to tax.

Inclusion rate. Only a portion of your capital gain is taxable. For 2026, the inclusion rate is 50% on annual capital gains up to $250,000. On gains exceeding $250,000, the inclusion rate rises to 66.67% (two-thirds) for the excess. This taxable amount is then added to your other income and taxed at your marginal rate.

Federal tax rates (2026). Canada's federal tax brackets are progressive: 15% on income up to $58,523; 20.5% up to $117,045; 26% up to $181,440; 29% up to $258,482; and 33% on income above $258,482. The taxable portion of your capital gain pushes you into higher brackets.

Provincial tax. On top of federal tax, you pay provincial income tax, which varies by province and territory. Provincial rates range from roughly 5% to over 25% depending on your province and income. Enter your provincial marginal rate above for a more accurate estimate (default 10%, approximately Ontario's average rate).

Adjusted cost base (ACB). Your cost basis for crypto includes the purchase price plus any fees, commissions, and other costs to acquire it. When you dispose of only part of your holding, you must calculate the ACB per unit to determine the gain or loss.

Losses. Capital losses from crypto can be used to offset capital gains from any source in the current year. Unused losses can be carried back up to 3 years or forward indefinitely to reduce taxable capital gains in other years.

Business income vs. capital gain. If you trade crypto frequently or run a crypto business, the CRA may classify your gains as business income (100% taxable) rather than capital gains. The distinction depends on factors like trading frequency, intention, and sophistication.

Staking, mining, and airdrops. Crypto received from staking, mining, or airdrops is generally treated as income at its fair market value when received. This amount is included in your income for the year and also becomes your cost basis for future capital gains purposes. Interest earned from lending crypto is treated as investment income.

Reporting to the CRA. Capital gains from crypto must be reported on Schedule 3 of your income tax return. You must report every taxable disposition, even if the exchange did not issue a tax slip. The CRA has been actively auditing crypto transactions and has information-sharing agreements with many exchanges. Keep detailed records of all transactions, including dates, amounts, and values in CAD.

Superficial loss rule. The CRA's superficial loss rule prevents you from claiming a capital loss if you repurchase the same or identical crypto within 30 days before or after the sale. If this rule applies, the loss is denied and added back to the cost base of the repurchased asset. This rule is intended to prevent investors from artificially creating losses for tax purposes.