CRA Crypto Tax Explained: Why Digital Asset Taxation Is Complex
This comparison Shows why crypto introduces more complexity into tax systems originally built for traditional finance.
Cross-Border Crypto Transactions
Cryptocurrencies are global, but tax is national. This is a mismatch, with potential issues including:
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Determining residency and source of income
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Foreign exchange usage reporting
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Taxation approaches vary greatly in different territories.
For Canadians using international platforms, cross-border activity increases both compliance risk and reporting complexity.
Education Gap Among Taxpayers
The majority of crypto users come into this space through apps or via social media, not having any idea about tax consequences.
Common misunderstandings include:
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Thinking small transactions do not matter
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Believing…
