It’s not clear whether Celsius reports to the CRA. However, it’s important to remember that you must report taxable income from cryptocurrency — including taxable income before the Celsius bankruptcy.
For more information, check out our guide to how to report Celsius crypto losses.
Yes. Cryptocurrency — on Celsius and other platforms — is subject to income and capital gains tax. This applies to transactions made before the Celsius bankruptcy.
For more information, check out our complete Canada guide to cryptocurrency tax.
Celsius did operate in Canada prior to its bankruptcy filing. However, the exchange never registered with government agencies like FINTRAC.
p>Remember, there is no way to legally evade your taxes in Canada. However, tools like tax-loss harvesting and cryptocurrency tax software can help you save thousands of dollars legally.
For more information, check out our guide on how to avoid crypto tax in Canada.