Crypto Tax & Blockchain Accounting in Canada

Crypto tax and accounting support for Canadian businesses and investors

Bhundhoo Tax Professional Corporation helps blockchain businesses, digital technology startups and cryptocurrency investors organise their records, prepare tax reporting and plan their accounting. Work with Amit Bhundhoo, CPA, in London, Ontario, or virtually across Canada.

Whether you have several exchanges, missing wallet records or a growing incorporated business, the first step is understanding your transactions and the work required. Book a free introductory consultation to discuss your situation.

How we can help with blockchain and digital assets

• Crypto transaction reconciliation: organise exchange exports and wallet histories, identify transfers and investigate missing records.
• Tax preparation and reporting: review the facts relevant to business income or capital gains and prepare applicable personal or corporate tax reporting.
• Bookkeeping and year-end accounting: reconcile balances, document Canadian-dollar values and connect digital asset activity with your business records.
• Planning and fractional CPA support: discuss cash flow, financial reporting, tax planning and the accounting needs of a growing technology business.
• CRA correspondence: discuss requests for crypto records and the scope of CRA representation support.

Mining, staking, DeFi transactions and cross-border activity can require additional analysis. We confirm what is included in your engagement before starting.

Experience supporting a blockchain business

Our blockchain work has included reconciling crypto transactions, addressing cross-border accounting and tax questions, and supporting a company preparing for public-market reporting. The focus is clear records, coordinated year-end work and financial information that management and other advisers can use.

Each engagement is different. We assess your needs and work with your legal, investment and other professional advisers where appropriate.

What to prepare before we start

1. Describe your situation: tell us whether you are investing personally or operating a business, your tax years, exchanges, wallets and main concerns.
2. Gather the records: download original transaction exports, wallet histories and previous reports. Keep a record of your valuation method and supporting documents.
3. Agree the scope: we identify missing information, discuss the reporting work and confirm fees and timing before the engagement begins.

Use the agreed secure sharing method for financial records. We do not need your seed phrases or private keys.

Canadian cryptocurrency tax questions

Is cryptocurrency taxable in Canada?

Selling crypto for money, exchanging it for another crypto-asset, or using it to pay for goods or services can create a disposition. The resulting profit or loss may be business income or a capital gain, depending on your circumstances.

Is moving crypto between my own wallets taxable?

A transfer between wallets you own generally does not create a taxable disposition. Keep transaction records so transfers can be distinguished from sales and other disposals.

Are crypto profits business income or capital gains?

The treatment depends on the facts, including your activities, intention and pattern of transactions. There is no single transaction-count rule that determines the result. We review your situation before preparing the relevant reporting.

What records should I bring to a crypto tax accountant?

Bring exchange exports, wallet addresses and transaction histories, dates, quantities, fees and Canadian-dollar values. Include records of purchases, sales, swaps, transfers, mining, staking and DeFi activity, plus prior tax returns and any CRA letters. Never share seed phrases or private keys.

Can you help with missing transactions or several exchanges?

We can discuss reconciling records across wallets and exchanges, identifying gaps and organising a transaction history. Feasibility, timing and fees depend on the available data and the complexity of the activity.

Do you work with blockchain companies and clients outside London?

Yes. Bhundhoo Tax supports blockchain and digital technology businesses and crypto investors virtually across Canada, with office appointments in London, Ontario. We agree the services, records, timing and fees before work begins.

How much does crypto tax accounting cost?

Fees depend on the number of wallets and exchanges, transaction types, record quality and the tax or accounting work required. Book an introductory consultation so we can assess the scope and provide a quote.

CRA guidance and next steps

For the underlying rules, read the CRA guidance on income from crypto-asset transactions, crypto record keeping and valuing crypto-assets. This page provides general information; the tax treatment depends on your facts and the rules applicable to your tax year.

Explore our accounting and tax services or learn about Bhundhoo Tax. Meet virtually across Canada or by appointment at 379 Dundas Street, Suite 217, London, Ontario.

Get a clear plan for your crypto records and tax reporting

Tell us what you need help with. Book your free introductory consultation to discuss the records, scope and next steps.