Cryptocurrencies

May 28, 2017

When is Bitcoin, Barter, and Bunz Taxable?

Summary Bitcoin is not any country’s currency. That is why Canada Revenue Agency (“CRA”) deems Bitcoin transactions as Income Tax Act (“ITA”) “property” being bartered for something else. CRA also deems barter, such as Bunz, as taxable income for both parties. This hidden deeming, or uninformed consent, is why many […]