- The return for the 2025 tax year was due on 30 April 2026, or 15 June 2026 if you or your spouse are self-employed. Tax owed was due on 30 April 2026 in both cases.
- Capital gains on crypto go on Schedule 3 of the T1 return. If you sold crypto, you must file even when you owe no tax.
- Corporations file the T2 return within six months after the end of their tax year.
- Bill C-31 would make crypto platforms report users’ transactions to the CRA from 2027, with the first return due before 2 May 2028. It was not yet law in October 2026.
- Keep records for at least six years, including every wallet address. Forgot to report? The Voluntary Disclosures Program can remove penalties.
This page covers when and how to report crypto to the Canada Revenue Agency (CRA). How the tax is calculated is on personal tax and business tax. It is general information, not tax advice. Residents of Quebec also file a provincial return with Revenu Québec, which this page does not cover.
Deadline calendar
The dates below are for the 2025 tax year, filed in 2026, as published by the CRA. The tax year is the calendar year, and the 2026 return follows the same pattern in 2027.
| Date | What | Who |
|---|---|---|
| 30 April 2026 | T1 return for 2025 due, and last day to pay any balance owing for 2025. T1135 due for individuals who are not self-employed | Individuals |
| 15 June 2026 | T1 return for 2025 due if you or your spouse or common-law partner are self-employed (payment was still due on 30 April). T1135 due for the self-employed | Self-employed individuals |
| Six months after year-end | T2 corporation return due, and T1135 for corporations (for a 31 December year-end: 30 June) | Corporations |
| Within 5 working days | Large virtual currency transaction report to FINTRAC after receiving CAD 10,000 or more | Crypto businesses (MSBs) |
| Before 2 May 2028 | First CARF return on the 2027 calendar year, if Bill C-31 becomes law as introduced | Crypto platforms |
Individuals: step by step
Do you have to file?
You file if you owe tax, and the CRA’s capital gains guide adds: “Regardless of whether or not the sale of a capital property results in a capital gain or loss, you must file an income tax and benefit return to report the transaction (even if you do not have to pay tax).” Selling crypto, swapping it or paying with it are all dispositions (see personal tax), so a year with crypto disposals is a year in which you file.
Crypto in the return
- Decide for each activity whether it is a capital gain or business income (see personal tax).
- For capital gains and losses, use Schedule 3 of the T1 return, in the section for “Bonds, debentures, promissory notes, crypto-assets, and other similar properties”. Half of the net gain is your taxable capital gain.
- Report business income from crypto, including mining run as a business, as business income. Staking rewards from a centralized platform are generally income when credited.
- Convert every amount to Canadian dollars at fair market value, with one reasonable method applied consistently.
We found no separate crypto question on the T1 return.
Extensions and late payment
The CRA publishes no general extension for individuals. The self-employed have until 15 June to file, but any balance owing is still due on 30 April. Filing late with a balance owing triggers the late-filing penalty (see penalties).
Foreign property (T1135)
Canadian residents must file Form T1135 if they own specified foreign property costing more than CAD 100,000 at any time in the year. A simplified method applies if the total cost stayed under CAD 250,000 all year. The deadline is the due date of your return: 30 April for individuals, 15 June for the self-employed and six months after the year-end for corporations. The CRA’s T1135 pages do not say whether crypto counts as specified foreign property, so ask the CRA or an adviser if you hold crypto through a platform abroad.
Companies
A corporation files its T2 return within six months after the end of each tax year. If the year ends on the last day of a month, the return is due on the last day of the sixth month after it (for example, a year ending 31 March is due by 30 September). If the deadline falls on a weekend or public holiday, it moves to the next business day. To claim a refund, a corporation must file within three years after the tax year ends.
What platforms report (CARF and FINTRAC)
Bill C-31 (the Budget 2025 Implementation Act, No. 2) was introduced on 6 May 2026 and passed second reading on 3 June 2026. On 7 October 2026 it was at committee stage in the House of Commons, with a Senate pre-study under way, and had not received Royal Assent. The details below may still change.
The bill adds a new Part XXI to the Income Tax Act that implements the OECD Crypto-Asset Reporting Framework (CARF). It would apply to the 2027 and later calendar years, with a return filed before 2 May of each following year, so the first return would be due before 2 May 2028. Draft legislation from August 2025 had proposed 2026, but Budget 2025 deferred the start to 1 January 2027, and the Spring Economic Update of April 2026 confirmed that date.
- Who reports. Crypto-asset service providers that, as a business, carry out exchange transactions for or on behalf of customers.
- What about you. Name, address, jurisdiction of residence, tax identification number and date of birth of each reportable user. The provider must obtain a self-certification of your tax residence.
- What about your transactions. Per type of crypto-asset, the aggregate gross amounts and number of acquisitions and disposals against money and against other crypto-assets, and reportable retail payment transactions.
FINTRAC already receives some data. A business must report to it when it receives virtual currency worth CAD 10,000 or more in a single transaction, or two or more amounts totaling CAD 10,000 or more within 24 consecutive hours from or for the same person. The report is due within five working days. Since 1 June 2021 the travel rule has also required providers to send the sender’s and recipient’s details with crypto transfers.
Records to keep
The CRA says you are responsible for keeping all required books and records “for at least six years from the end of the last taxation year” they relate to. For crypto it expects, for each transaction:
- the date and time, the type of crypto-asset and the number of units;
- the value in Canadian dollars at the time of the transaction;
- what the transaction was and who the other party was;
- the addresses of each digital wallet you used, and the opening and closing balance of each wallet for the year;
- related costs, such as accounting, legal and software costs, and for miners hardware receipts, power and maintenance costs and mining pool records.
Exchanges keep records for different lengths of time, so the CRA advises you to export your history regularly, in case an exchange stops operating or you lose access to your account.
Penalties and voluntary disclosure
| Situation | Penalty (as published for the 2025 return) |
|---|---|
| Return filed late with a balance owing | 5% of the balance owing, plus 1% for each full month late, up to 12 months |
| Late again after a demand to file, and a late-filing penalty in 2022, 2023 or 2024 | 10% of the balance owing, plus 2% for each full month late, up to 20 months |
| T1135 not filed on time | Penalties apply; the CRA’s T1135 page does not give the amounts |
Forgot to report crypto? The CRA’s Voluntary Disclosures Program (VDP) lets you correct earlier returns. Since 1 October 2025 there are two tiers. If you come forward before the CRA contacts you (unprompted), general relief gives 100% relief of penalties and 75% relief of interest. If the CRA contacted you first but you are not under audit or investigation (prompted), partial relief gives up to 100% relief of penalties and 25% relief of interest. In both cases the tax itself is due, and the CRA expects information for the most recent 10 years for foreign-sourced income or assets and 6 years for Canadian ones. Once CARF reports arrive from 2028, the CRA will see more of what Canadians hold on platforms.
Sources
- CRA: Important dates for individuals (last checked October 2026)
- CRA: T4037 Capital Gains 2025 (last checked October 2026)
- CRA: Reporting your capital gains as a crypto-asset user (last checked October 2026)
- CRA: Reporting income from crypto-asset transactions (last checked October 2026)
- CRA: Keeping books and records of crypto-assets for tax filing (last checked October 2026)
- CRA: Foreign income verification statement (T1135) (last checked October 2026)
- CRA: Questions and answers about Form T1135 (last checked October 2026)
- CRA: When to file your corporation income tax return (last checked October 2026)
- CRA: Late-filing penalty (last checked October 2026)
- CRA: Changes to the Voluntary Disclosures Program (last checked October 2026)
- Parliament of Canada: Bill C-31 (LEGISinfo) (last checked October 2026)
- Parliament of Canada: Bill C-31, first reading text (last checked October 2026)
- Budget 2025: Tax measures, supplementary information (last checked October 2026)
- Spring Economic Update 2026: Tax measures, supplementary information (last checked October 2026)
- Department of Finance: Draft legislation on the Crypto-Asset Reporting Framework (August 2025, superseded) (last checked October 2026)
- FINTRAC: Large virtual currency transaction reports (last checked October 2026)
- FINTRAC: Travel rule (last checked October 2026)
This page is general information, not tax advice. Rules, amounts and dates change, so check the official sources above before you act.