Canada Crypto Tax Calculator — Free CRA Report
Import your exchange files and get each disposition’s proceeds, adjusted cost base and gain, with superficial losses applied and the taxable half worked out. Nothing is uploaded and the report is free.
Your transaction files never leave your device. How to check this yourself
Figures for general information, not tax advice. Does not determine whether your activity is business income. Disclaimer
How to work out crypto capital gains for the CRA
The CRA treats a crypto-asset disposition as a capital gain or loss when it isn’t business income. You compare the proceeds with the adjusted cost base (ACB) plus the outlays of selling, and half of a capital gain is included in income (CRA: reporting income from crypto-asset transactions). Your ACB is usually the weighted average cost of identical crypto-assets, so a purchase on one exchange changes the cost of the same coin you hold on another. The calculator keeps one running average per asset across all your accounts.
- 1
Import all accounts
Download every exchange and wallet history, including earlier years, so each asset’s average cost starts from your first purchase.
- 2
Check the review list
Confirm transfers between your own wallets, give a cost to deposits from elsewhere and settle any transaction type the file didn’t explain.
- 3
Download your figures
Pick the year and download the Schedule 3-style CSV, the PDF with the taxable capital gain, and the ACB history per asset.
What you get
- Adjusted cost base averaged per crypto-asset across every account you import
- Superficial loss rule applied, with the denied amount added to the new ACB
- Schedule 3-style CSV: description, year acquired, proceeds, ACB, outlays, gain or loss
- Total capital gains and the taxable half at the current inclusion rate
- Outlays and fees added to cost or deducted from proceeds
- Staking and other rewards listed as income at fair market value
- Clear warning that frequent trading may be business income
- PDF report and CSV ledger, free and without a watermark
What happens to your files
Your transaction files never leave your device. CryptoTaxOwl reads them and calculates your report inside this browser tab. We don’t upload them, and the ads and analytics on this website can’t see them: the calculator runs in a separate, ad-free part of the site. To value your trades we download the same price file for every visitor, so even that doesn’t reveal what you hold.
The workspace opens your files in your browser and keeps them there. Averaging, superficial-loss checks and the PDF all run on your device, in a separate, ad-free part of the site, and closing the tab clears the work unless you save a project file. Our verify-it-yourself steps show how to confirm that nothing is sent.
We don’t ask for exchange logins, API keys or wallet addresses, and the workspace refuses anything that looks like a recovery phrase.
Average cost, then a superficial loss
Two hand-calculated test cases for the Canadian engine. The second follows the superficial loss rule as the CRA describes it in its capital gains guide (Guide T4037).
1. Averaging the ACB
You buy 1 BTC for $3,000, 1 BTC for $5,000 and 1 BTC for $10,000. Your ACB is $18,000 for 3 BTC, an average of $6,000 each. You sell 1 BTC for $9,000: proceeds $9,000 − ACB $6,000 = +$3,000 capital gain, of which $1,500 is the taxable capital gain. The remaining 2 BTC carry an ACB of $12,000. It makes no difference which exchange each coin was bought on.
2. Selling at a loss and buying back
You hold 10 ETH with an ACB of $30,000 and sell all of it on March 1, 2025 for $20,000, a $10,000 loss. On March 15 you buy 10 ETH for $21,000 and you still hold them at the end of the 30-day period after the sale. The whole loss is a superficial loss: it’s denied for 2025 and added to the cost of the new coins, giving them an ACB of $31,000. If you had bought back only 5 ETH, half the loss ($5,000) would be denied and half allowed.
The inclusion rate: why only half your gain is taxable
Half of a capital gain is the taxable capital gain, and half of a capital loss is the allowable capital loss (CRA crypto-asset guide). A proposal to raise the inclusion rate to two-thirds above $250,000 was cancelled by the government on March 21, 2025 (Prime Minister’s Office). The report shows your total capital gains, total losses and the taxable amount at one-half, read from the rules file for the year you choose.
Capital gain or business income? The report can’t decide for you
If your crypto activity amounts to carrying on a business, the profit is business income, fully taxable, rather than a capital gain. The CRA lists factors it looks at, including how often you trade, how long you hold, your knowledge of the markets, the time you spend, whether you borrow to invest, and whether you advertise (CRA crypto-asset guide). CryptoTaxOwl calculates figures on the capital basis and prints a clear warning; it doesn’t assess which treatment applies to you.
Where the figures go
Capital gains and losses from dispositions are reported on Schedule 3 with your return, and the CRA’s Guide T4037 explains each line. The report’s CSV has one row per disposition with the description, year of acquisition, proceeds, ACB, outlays and gain or loss. Staking, mining and other rewards appear in a separate income table at fair market value when received. The filing deadline for most individuals is April 30; see the deadline calendar.
Good to know
- Affiliated persons aren’t modelled. The superficial loss rule also catches purchases by your spouse or a company you control. The calculator only sees the accounts you import.
- One average across everything. Unlike the US, Canada doesn’t split cost by wallet, so a missing account changes the average for every other account.
- Missing purchase history means missing cost. If a deposit has no purchase behind it, Ledger asks you to match it, enter its cost, or accept zero cost, which is listed in the report.
- Crypto-to-crypto trades count. Swapping one crypto-asset for another is a disposition, valued at fair market value in Canadian dollars.
- Losses carry over. Net capital losses can be applied against taxable capital gains in other years under the rules in Guide T4037; the report shows this year’s figures only.
CryptoTaxOwl produces figures for general information. It isn’t tax, legal or financial advice, and it can only be as complete as the files you import. Check the warnings in this report, keep your own records, and speak to a qualified tax adviser if you’re unsure. You are responsible for what you file. Does not determine whether your activity is business income.
Related calculators and guides
- Crypto cost basis methods: FIFO, LIFO, HIFO and average cost comparedOne set of trades under four methods, and which method the US, UK, Canada, Australia and Germany allow.
- Moving crypto between your own wallets: why it isn’t a sale, and how to fix mismatchesSelf-transfers, network fees, and the unmatched deposits that quietly inflate tax reports.
- How staking rewards and airdrops are taxed in the US, UK, Canada, Australia and GermanyIncome or capital? When rewards are taxed, how they’re valued and how that value becomes your cost later.
Exporting your history: Coinbase · Binance · Kraken · Crypto.com · Revolut · Gemini · Bybit · OKX · KuCoin · Bitstamp · Filing deadlines · Changelog
Questions people ask
Is crypto-to-crypto trading taxable in Canada?
Yes. Exchanging one crypto-asset for another is a disposition, and the CRA treats it like a barter transaction valued at fair market value. Each swap gets its own row in the report.
How is ACB calculated when I use several exchanges?
The ACB of identical property is averaged across everything you own, not per exchange. The calculator keeps one running average per asset across all imported accounts.
What is a superficial loss for crypto?
A loss on a disposition is denied when you (or an affiliated person) acquire identical property in the 30 days before or after the sale and still hold it at the end of that period. The denied loss is added to the ACB of the property you bought back. See Guide T4037.
How much of my crypto gain is taxed?
Half of a capital gain is included in income as a taxable capital gain; it’s then taxed at your marginal rate. The report shows the taxable amount but not the tax, which depends on your other income and province.
Are staking rewards income?
The workspace lists rewards as income at fair market value when received by default, and that value becomes their cost. Whether they’re business or property income depends on your circumstances, which the report flags rather than decides.
Which years can I calculate?
2025 and 2024. Transactions from earlier years are still used to build the average cost.