<p>Trading bitcoins for CDN$ is also non taxable if occasional and if your are not doing it as a business.. </p>

CC BY-SA 3.0
2013-12-03T20:27:36.323Z
Could you please link a source for that information?
Murch
CC BY-SA 3.0
2013-12-05T13:46:00.693Z
Yes, I doubt this is true at least at the federal level.
Kiv
CC BY-SA 3.0
2013-12-02T20:56:05.997Z
2013-12-02T20:56:05.997Z
user9939
<p>Taxing authorities consider currencies or goods received in trade to be taxable income. Bitcoin would fall in the same category as foreign currency or barter, and would be taxable.</p>

<p>In Canada, barter is sometimes exempt from taxation:</p>

<p>"According to the Revenue Canada document T-490 (Barter Transactions): if the person(s) bartering is an employee, and not a business owner, they may exchange non-business-related services or goods "occasionally" without being subject to taxation. However, if the goods are business-related, or the exchange is "a regular habit" it falls under the category of taxable income, regardless of his employee status." <a href="http://businesspartnerships.ca/articles/bartering_for_small_business.phtml">source</a></p>

<p>Here's the Revenue Canada bulletin on barter and taxation:</p>

<p><a href="http://www.cra-arc.gc.ca/E/pub/tp/it490/it490-e.txt">http://www.cra-arc.gc.ca/E/pub/tp/it490/it490-e.txt</a></p>

CC BY-SA 3.0
2012-08-06T10:02:05.123Z
So I suppose mining is not taxable, until you sell (or trade) your coins to someone, at which point you'd have to pay income tax.
Thilo
CC BY-SA 3.0
2015-12-12T02:41:29.140Z
Yes that is correct.
Amin
CC BY-SA 3.0
2011-09-04T06:30:31.157Z
2011-09-04T06:30:31.157Z
Amin
<p>What taxes should be paid in Canada on Bitcoin transactions? Has anyone gotten official advice on this?</p>

<p>Is it relevant whether the Bitcoins were mined, received as payment for services, bought and then sold for a profit, or freely donated?</p>

<p>Is it relevant whether the Bitcoins are exchanged for CAD or exchanged directly for goods?</p>

<p>Is it relevant where geographically the buyer and seller are?</p>

CC BY-SA 3.0
2012-08-07T21:06:55.817Z
Here's a thread on the topic:

 - http://bitcointalk.org/index.php?topic=77186.0
Stephen Gornick
<legal><taxes><canada>
Tax implications in Canada of buying and selling Bitcoins?
Kiv
# Tax implications in Canada of buying and selling Bitcoins?

(Asked by: username_0 on 2011-09-04)

What taxes should be paid in Canada on Bitcoin transactions? Has anyone gotten official advice on this?

Is it relevant whether the Bitcoins were mined, received as payment for services, bought and then sold for a profit, or freely donated?

Is it relevant whether the Bitcoins are exchanged for CAD or exchanged directly for goods?

Is it relevant where geographically the buyer and seller are?

**Tags:** legal, taxes, canada

> **Comments:**
> **username_1**: Here's a thread on the topic:   - http://bitcointalk.org/index.php?topic=77186.0  

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## 2 answers

### Answer by username_4 on 2011-09-04. Score: 9 | Accepted answer

Taxing authorities consider currencies or goods received in trade to be taxable income. Bitcoin would fall in the same category as foreign currency or barter, and would be taxable.

In Canada, barter is sometimes exempt from taxation:

"According to the Revenue Canada document T-490 (Barter Transactions): if the person(s) bartering is an employee, and not a business owner, they may exchange non-business-related services or goods "occasionally" without being subject to taxation. However, if the goods are business-related, or the exchange is "a regular habit" it falls under the category of taxable income, regardless of his employee status." [source](http://businesspartnerships.ca/articles/bartering_for_small_business.phtml)

Here's the Revenue Canada bulletin on barter and taxation:

<http://www.cra-arc.gc.ca/E/pub/tp/it490/it490-e.txt>

> **Comments:**
> **username_5**: So I suppose mining is not taxable, until you sell (or trade) your coins to someone, at which point you'd have to pay income tax.  
> **username_4**: Yes that is correct.  

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### Answer by username_2 on 2013-12-02. Score: -1

Trading bitcoins for CDN$ is also non taxable if occasional and if your are not doing it as a business..

> **Comments:**
> **username_3**: Could you please link a source for that information?  
> **username_0**: Yes, I doubt this is true at least at the federal level.  

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