Canada Revenue Agency: 3 Ways to Save Bitcoin Gains From the CRAs Claws

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Do you know the Canada Revenue Agency (CRA) can levy tax on all the wealth you accumulated from Bitcoin and other cryptocurrencies? Even though crypto is unregulated, it becomes taxable when you convert digital gold into fiat currency. Let me explain how. Many people mine or buy BTC as an alternative investment. They hold BTC hoping to sell it when its price rises. The profit or loss they make from the difference come under the CRA tax purview.

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Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By:  Puja Tayal

Original Article Posted on:  May 14, 2021

Link to Original Article:  https://ca.finance.yahoo.com/news/canada-revenue-agency-3-ways-224501298.html

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