- A business values crypto in Canadian dollars at fair market value. Crypto held as inventory is valued at the lower of cost and market value, or all at market value, applied consistently.
- Companies pay a federal rate of 15% after the general tax reduction, or 9% for Canadian-controlled private corporations on income under the small business deduction, plus provincial or territorial tax.
- Selling bitcoin or ether is an exempt financial service for GST/HST. Since 5 February 2022, crypto mining is generally not a commercial activity for GST/HST.
- A business that exchanges or transfers crypto for others must register with FINTRAC as a money services business before it starts.
This page covers companies and self-employed people in Canada that hold, accept or earn crypto. Individuals who invest are on personal tax, and the deadlines for companies are on filing and deadlines. It is general information, not tax advice.
Crypto in the accounts
A company’s crypto gains are business income or capital gains under the same test the CRA uses for individuals: frequent trading, short holding periods and similar factors point to business income (see personal tax). Values are in Canadian dollars at fair market value, using a reasonable method applied consistently and documented.
For crypto held as inventory of a business, the CRA allows two methods, applied consistently: each asset at the lower of its cost and its fair market value at year-end, or the whole inventory at fair market value. Property held in an adventure or concern in the nature of trade must be valued at cost. If you accept crypto as payment, the CRA treats it as barter and you include the fair market value of the crypto in your income. Mining done as a business is income when the crypto is earned.
Corporate income tax
| Federal corporate tax (2026) | Net rate |
|---|---|
| Basic rate | 38%, or 28% after the federal tax abatement |
| General rate, after the general tax reduction | 15% |
| Canadian-controlled private corporations claiming the small business deduction | 9% |
The federal business limit for the small business deduction is CAD 500,000 for a corporation that is not associated with another corporation. It is shared among associated corporations, and it shrinks when passive investment income is between CAD 50,000 and CAD 150,000, or when taxable capital employed in Canada is between CAD 10 million and CAD 50 million. Provinces and territories add their own corporate tax, usually a lower rate on income under their business limit and a higher rate on the rest. Quebec and Alberta run their own corporate tax systems.
GST/HST on crypto
Canada’s sales tax is the goods and services tax (GST), or the harmonized sales tax (HST) in provinces that have combined it with their own. The CRA’s position on crypto:
- Buying and selling crypto. Crypto that meets the definition of a virtual payment instrument in the Excise Tax Act, such as bitcoin, ether and litecoin, is an exempt supply of a financial service when sold. No GST/HST applies, and no input tax credits can be claimed for it.
- Accepting crypto as payment. A GST/HST registrant charges tax on its goods or services as usual and works out the value from the crypto’s fair market value at the time of the transaction.
- Other tokens. Crypto-assets that are not virtual payment instruments, such as utility tokens, security tokens and NFTs, can be a taxable sale of intangible personal property, on which GST/HST is collected.
- Mining. Since 5 February 2022, mining is generally considered not to be a commercial activity. Miners then do not collect GST/HST on it and cannot claim input tax credits. The exception is mining services performed for another person whose identity is known.
The CRA’s GST/HST page does not discuss staking.
If your business provides crypto services
Dealing in virtual currency, for example exchanging or transferring it for customers, is a money services business (MSB) activity. FINTRAC, Canada’s financial intelligence unit, says: “Before beginning to operate in Canada, you must register your money services business or foreign money services business with FINTRAC.” A foreign MSB, without a place of business in Canada, must register too if it directs services at people in Canada. Registered businesses must identify customers, keep records and report, for example, virtual currency of CAD 10,000 or more received in one transaction (see filing and deadlines).
A platform that trades crypto in a way that involves securities or derivatives also needs registration with a provincial or territorial securities regulator; see regulation. Under Bill C-31, which was not yet law in October 2026, crypto-asset service providers would also report their users’ transactions to the CRA from 2027.
Sources
- CRA: Reporting income from crypto-asset transactions (last checked October 2026)
- CRA: Determining the value of crypto-assets for tax filing (last checked October 2026)
- CRA: Reporting income from crypto-asset mining and staking activities (last checked October 2026)
- CRA: Collecting and remitting GST/HST from crypto-asset transactions (last checked October 2026)
- CRA: Corporation tax rates (last checked October 2026)
- CRA: T2 Corporation Income Tax Guide, chapter 4 (business limit) (last checked October 2026)
- FINTRAC: Money services businesses (last checked October 2026)
- Parliament of Canada: Bill C-31 (LEGISinfo) (last checked October 2026)
This page is general information, not tax advice. Rules and rates change, so check the official sources above before you act.