Canadian tax obligations don’t exempt people who made money utilizing digital currencies. The taxes are implied on Canadian for income gain through virtual currencies. As cryptocurrency like Bitcoin and Ethereum made users to gain currencies.
The word crypto comes from the Greek word for hidden. If User thinks to hide his virtual currency during taxing, the Canada Revenue Agency is going to take an action on him.
Obligations on digital currency
The CRA and Chartered accountants have cautioned residents to the pay tax on or before April 30 as filling deadline roles. Simon Mills, Self-taught cryptocurrency investor came with few steps to make the filing of his taxes. He says “I tracked all of my trades and I have a record of all of it.”
Read more here: Canadian Authorities to impose the tax on Cryptocurrencies
Source: https://coinpedia.org/news/canadian-authorities-impose-tax-cryptocurrencies/
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