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Author: Admin | 2025-04-27
Transactions is taxed. For example, if someone bought CA$10,000 worth of BTC but later sold it for CA$14,000, only half of the CA$4,000 gain is taxed. Selling, trading, gifting, and buying goods and services with crypto, or any other disposition of cryptocurrency, are considered taxable events in Canada. Some crypto transactions are tax-free, like buying crypto or moving it between personal wallets. See the table above for a summary.Income TaxCrypto transactions might be taxed as income if they show signs of business transactions (e.g., a user promotes a product or service, or makes a transaction for commercial reasons). Mining and staking of crypto are also usually considered business income. In this case, 100% of crypto income is taxed.The federal tax rates in Canada range from 15%–33% and may be even higher for residents of some provinces, who also pay a provincial tax.Visit our in-depth guide on Canadian crypto taxes.How Much Is Crypto Tax in the UK?For UK tax purposes, cryptocurrency can be taxed as capital gains and/or income. Capital gains from cryptocurrency transactions are added to a user’s other capital gains and taxed according to their marginal tax rate. Similarly, cryptocurrency received as income will be added to a user’s taxable income and taxed according to their marginal tax rate. The amount of tax a user will need to pay on cryptocurrency transactions in the UK depends on several factors, including the user’s marginal tax rate and the type of transaction conducted.Source: Gov.UKCapital Gains TaxSelling, trading, buying goods and services, and gifting crypto are all taxable events that may be subject to capital gains tax in the UK.The good news: UK taxpayers have a generous £12,300 tax-free allowance for capital gains, which also applies to crypto assets. For anything above, a user is taxed at a rate of 10% or
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