Reporting framework, corporate tax and individual tax treatment for digital assets in Canada, from CryptaCount's jurisdiction database covering 72 countries.
Canada: tax & reporting data
General Information
Default Framework
IFRS
Permitted Frameworks
IFRS, ASPE
IFRS Mandatory For
Public entities use IFRS. Private entities may use ASPE.
Tax Year
Calendar Year (end M12)
Functional Currency
CAD
FX Source (Reporting)
BOC
FX Source (Tax)
CRA
Transaction Rate
Daily Spot
Hyperinflationary
✗ No
Reporting — ASPE
Framework Available
✓ Yes
Crypto Classification
Intangible Asset
Classification Notes
IAS 38 intangible (most common); IAS 2 inventory if held for sale in ordinary course. No dedicated IFRS crypto standard.
Measurement Basis
Historical Cost
Permitted Cost Methods
FIFO, WAVG
Prohibited Cost Methods
LIFO
Impairment Required
✓ Yes
Impairment Type
ASPE 3064
Reversal Allowed
✗ No
NRV Write-down
✗ Not required
Fair Value Hierarchy
—
Recent Standards
No dedicated IFRS crypto standard. IFRIC agenda decision (2019) confirmed IAS 38/IAS 2. IASB crypto project in pipeline, no ED yet.
Corporate Tax — Rate & Classification
Corporate Tax Rate
26.5%
Crypto Classification
Capital Gains
Notes
CRA treats crypto as commodity. 50% inclusion rate for capital gains (increased to 66.7% for gains >CAD 250K from June 2024 — verify status).
Corporate Tax — Cost Basis
Measurement Basis
Historical Cost
Default Cost Method
ACB
Permitted Methods
ACB
Taxpayer Can Elect
✗ No
Country Override
ACB (Canada)
Override Notes
Adjusted Cost Base (ACB) mandatory per CRA. ACB = total cost of all units / total units held (effectively WAVG per asset). Not FIFO.
LIFO Conformity Req.
✗ No
Differs from Reporting
✓ Yes
Corporate Tax — Anti-Avoidance
Wash Sale
✓ Superficial Loss
Window (before/after)
30d / 30d
Same-Day Rule
✗ No
Loss Restriction
Capital only
Loss Carryforward
Unlimited
Corporate Tax — Holding Period
Holding Period Benefit
✗ No
Period
—
Benefit Type
—
Corporate Tax — Crypto Event Treatment
Staking Rewards
FMV at Receipt
Gas Fee Treatment
Add to Cost
Gas = Disposal of Native
✓ Yes
Crypto↔Crypto Taxable
✓ Yes
DeFi Wrapping
Unclear
Fork Cost Basis
Zero
Individual Tax — Regime
Tax Regime
Capital Gains
Regime Notes
50% capital gains inclusion rate (66.7% for gains >CAD 250K from June 2024). ACB mandatory.
Tax Rate
26.7%
Rate Notes
50% of gain included in income at marginal rate (up to ~53%). 66.7% inclusion for gains >CAD 250K from June 2024.