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Tax and the Bitcoin: Real Money Owing to CRA

Posted: January 09, 2018 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Financial Literacy, CRA, dividends, investments, trading, knowledge bureau, Evelyn Jacks, income tax, tax courses, bitcoin, tax education, financial education, Real Wealth Manager, interest, capital gains tax, taxation issues, Bitcoin value, Bitcoin trading, tax on digital currency, gold, PayPal tax

“Bitcoin Rush” is all over the news as speculators have tried to get in on the trend which saw skyrocketing values at the end of 2017. But there is a spoiler: gains on trading digital currencies like Bitcoins are subject to taxation in Canada, a liability that must be settled in real dollars.