Crypto-Asset Taxation
Crypto-asset taxation in Canada is a rapidly evolving area, marked by increasing scrutiny from tax authorities and growing compliance obligations. We assist individuals and businesses in managing all their tax obligations related to cryptocurrencies and other digital assets — both in Canada and internationally.
How We Help
- Analysis and characterization of gains and losses (business income, property income, or capital gain — depending on the nature and frequency of transactions)
- Determination and management of reporting obligations, including preparation of required forms
- Analysis of complex transactions: purchases, sales, exchanges, staking, mining, airdrops, forks, lending, and other crypto-asset operations
- Review of tax compliance for wallets and platforms held outside Canada, including international disclosure requirements
- Proactive tax planning to optimize the tax position and minimize the risk of audit or penalties
Our approach aims to provide comprehensive, personalized support — ensuring compliance, security, and tax optimization across all crypto-asset activities.
Frequently Asked Questions
Common questions about Canadian and international taxation
For informational purposes only. See disclaimer.
Form TP-21.4.39-V, the Cryptoasset Return, must be filed by a Québec taxpayer whether an individual, an individual in business, a corporation, or a trust or any partnership that, during the year, owned, received, disposed of, or used cryptoassets in a transaction, or received cryptoassets as rewards from mining or staking.
Cryptoassets include items such as cryptocurrencies, security tokens, non-fungible tokens, utility tokens, privacy coins, and stablecoins.
The form must be filed with the income tax return for each taxation year or fiscal period during which such transactions took place or if crypto-assets were held. Failure to file form TP-21.4.39-V may result in penalties. It is therefore important to properly document all the transactions and retain the necessary supporting records to comply with Revenu Québec's reporting obligations.
Have a tax situation to work through?
Book a consultation with Akira Kamio, CPA auditor, LL.M. (Taxation), specialist in Canadian and international income tax.