Navigating the intricacies of reporting cryptocurrency investments on your Canadian T1 tax return can feel overwhelming. At CPA PRO SERVICE, we specialize in simplifying this process, making it straightforward and hassle-free for you.
Individual Tax Packages:
Basic Package
⦁ T1 General Income Tax and Benefit Return ⦁ Schedule 3 Capital Gains/Losses for crypto transactions ⦁ Price: CAD $25Standard Package
⦁ Includes all services of the Basic Package ⦁ Average Base Cost calculation for crypto transactions ⦁ Price: CAD $35Business Tax Packages (T2125):
Level 1
⦁ Filing of T2125 form for business income from crypto activities
⦁ Schedule 3 reporting for capital gains/losses
⦁ Price: CAD $35
Level 2
⦁ Includes all services of Level 1
⦁ Average Base Cost calculation for crypto transactions
⦁ Price: CAD $50
Foreign Assets & Income Reporting
⦁ Check our foreign assets and income reporting add-on for detailed information
Foreign Assets & Income Reporting
⦁ Check our foreign assets and income reporting add-on for detailed information
⦁ Get Custom Pricing
Forms You’ll Need:
⦁ Schedule 3 – Capital Gains (or Losses)
⦁ Form T2125 – Statement of Business or Professional Activities
⦁ Form T1135 – Foreign Income and Property
How to Report Capital Gains and Losses:
⦁ Identify Taxable Events: Any disposal of crypto (selling, trading, gifting) is considered a taxable event.
⦁ Calculate Your Cost Basis: Include the original cost of your crypto and transaction fees.
⦁ Determine Gains or Losses: Compare proceeds from the disposal to your cost basis.
⦁ Reporting on Schedule 3: List each taxable event separately on Schedule 3.
⦁ Taxable Portion: Only 50% of capital gains are taxable.
Why Choose Us for Cryptocurrency Tax Filing:
⦁ Tailored Solutions: Our services cater to your specific individual and business needs.
⦁ Expert Guidance: Ensure compliance with Canadian regulations through expert guidance.
Expertise You Can Rely On
Rely on our experienced team for accurate and efficient filing, ensuring compliance and providing you with peace of mind.
Reviews
There are no reviews yet.