Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 06 NOVEMBER 2019

Tax Treatment Of Cryptocurrency Mining

Fasken
Explore more from Fasken

On August 8, 2019, the Canada Revenue Agency (the "CRA") released an Income Tax Ruling, 2018-0776661I7, clarifying its view on the taxation of cryptocurrency miners.

CanadaTax
Kathryn Walker
Kathryn Walker
Author LinkedIn connections

On August 8, 2019, the Canada Revenue Agency (the "CRA") released an Income Tax Ruling, 2018-0776661I7, clarifying its view on the taxation of cryptocurrency miners.

The ruling responded to a taxpayer inquiry, asking whether a bitcoin miner should include the value of mined bitcoin in income at the time it is received.

Bitcoin miners have an essential role in both the creation and the maintenance of the block-chain technology, which is the foundation of bitcoin itself. When miners, using their computers, solve computation-intensive math problems on the bitcoin network, they produce or create new bitcoin. In addition, in solving the math problems, bitcoin miners verify the network's transaction information, securing the bitcoin payment network.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Cryptocurrency Held Through A Bare Trustee: Tax Treatment And The 2026 Reporting Obligations

If you hold cryptocurrency, NFTs or other blockchain assets in someone else’s wallet, or hold assets in your own wallet for someone else, the arrangement is very likely a bare trust. Until recently, that carried almost no compliance consequence. It now carries three reporting obligations to track: the T3 filing for 2026, the T1135, and the proposed Crypto-Asset Reporting Framework from 2027.
CanadaTax
Rotfleisch & Samulovitch P.C.
Rotfleisch & Samulovitch P.C.
Article

How To Appeal The Toronto Vacant Home (VHT) Tax: Here’s What One Landlord Did To Fight VHT Assessment

Since 2022, the City of Toronto has imposed an annual Vacant Home Tax (VHT) on residential units left unoccupied for more than six months of the year. For most owners the tax is an afterthought: file the annual declaration, confirm the unit was lived in, and move on. But when the City’s administrative process breaks down, an owner can find themselves fighting a five-figure tax bill over a unit they insist was never vacant at all.
CanadaTax
Rotfleisch & Samulovitch P.C.
Rotfleisch & Samulovitch P.C.
Article

Canadian Prime Minister Announces ‘Productivity Mega Deduction’

Canada's new Productivity Mega Deduction permanently provides immediate expensing for a wide range of depreciable property and Canadian development expenses, dramatically expanding the scope beyond the previously announced Productivity Super Deduction. The measure aims to reduce Canada's marginal effective tax rate on new business investment to 6.4%, positioning it as the lowest among major economies and less than half the U.S. rate.
CanadaTax
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Productivity Mega Deduction: Key Tax Measures Announced At The Canada Investment Summit

Canada has introduced a permanent Productivity Mega Deduction allowing immediate expensing of up to 100% of eligible capital property costs and Canadian development expenses acquired after September 15, 2026. This measure aims to boost business investment and strengthen Canada's tax competitiveness by expanding immediate expensing eligibility from 15% to approximately two-thirds of capital investments, while reducing the country's marginal effective tax rate to 6.4%.
CanadaTax
McCarthy Tétrault
McCarthy Tétrault
Article

More Than Skin Deep: Ontario Considers A Makeover Of Cosmetic Injection Rules

A regulatory shift now under consideration in Ontario could reshape how the province’s medical aesthetic clinics operate. The proposal, which would change how nurses are authorized to administer medical aesthetic services, invites a broader look at how Ontario currently regulates cosmetic injections and how the proposed changes would align the province more closely with the regulatory frameworks already in place elsewhere in Canada. While these procedures are often marketed as routine “spa” services, they remain medical acts that involve prescription products and carry clinical risks.
CanadaFood, Drugs, Healthcare, Life Sciences
Fasken
Fasken
Article

Canada’s Counter-Tariffs On US Goods: A Primer On What Canadian Businesses Need To Know

Effective September 8, 2026, Canada implemented retaliatory tariffs on certain U.S. goods in response to the initial 50% tariffs imposed by the US under Section 338 of the Tariff Act of 1930. To operationalize these measures, the Canada Border Services Agency (CBSA) issued Customs Notice 26-23, establishing binding administrative rules on how the surtax will be applied, calculated, and collected.
CanadaInternational Law
Fasken
Fasken
Article

Life Sciences-Health Canada Takes Action Against Unauthorized Peptide Sales

On July 29, 2026, Health Canada announced that it had obtained a permanent injunction against a Québec-based company in connection with the sale of unauthorized injectable peptides in Canada. The announcement reflects Health Canada’s continued focus on peptide products and serves as a reminder that injectable peptides intended for human use are regulated as prescription drugs and are subject to Canada's drug regulatory framework.
CanadaFood, Drugs, Healthcare, Life Sciences
Fasken
Fasken
Article

Buying Quebec, Buying Canadian: What The New Orders In Council 1358-2026 And 1359-2026 Mean For Procurement

Under Order in Council 1358-2026, the Québec government authorizes, from September 7, 2026 to January 31, 2027, the Centre d'acquisitions gouvernementales (the “CAG”) to depart from the general principle that public calls for tenders must be open and without discrimination to foreign suppliers from jurisdictions bound by an intergovernmental agreement with Québec.
CanadaGovernment, Public Sector
Fasken
Fasken
Article

Counter-Tariffs In Force, U.S. Import Bans Announced, A Cabinet Planning Forum, An Investment Summit, EU Diplomatic Overtures And A House Returning

With Labour Day now behind us, Parliament Hill is gearing up for its September 21 return. Canada’s counter-tariffs on nearly $28 billion in American goods are now in force, and the United States has already escalated in response: President Trump has signed measures to ban certain Canadian alcohol, dairy-related products, molasses, non-alcoholic beer, motorcycles and mopeds from entering the U.S. market as of September 29, while modifying the list of Canadian goods subject to 50% tariffs effective September 15 and directing action to remove Canadian-origin products from U.S. government procurement schedules.
CanadaInternational Law
Fasken
Fasken