Does Celsius Report to the CRA?

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Celsius

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Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Celsius’s tax reporting policies within Canada. We’ll also break down a simple way to report your Celsius taxes in minutes.

Does Celsius report to the Canada Revenue Agency? (CRA)

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.

Do I have to pay taxes on my Celsius transactions?

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.

Is Celsius legal in Canada?

Celsius did operate in Canada prior to its bankruptcy filing. However, the exchange never registered with government agencies like FINTRAC.

How do I avoid Celsius taxes in Canada?

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.

Get a Celsius tax report today

Looking for a simple way to report your Celsius taxes? With CoinLedger, you can import your Celsius transactions and auto-generate a complete gains, losses, and income tax report in minutes.

CoinLedger integrates with Celsius and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.

You can get started with a free preview report today.

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