Free Canada Crypto Tax Calculator for Capital Gains
We created this tax calculator for Canadian users that want to check calculations quickly. This is for informational purposes only. Consult an expert CPA or tax professional. You may need advanced tax software if you have many trades.
Crypto Tax Calculator for Canada
How to Use Our Calculator
- Begin by entering your financial information for the year 2024.
- Input your total income, the amount you invested in cryptocurrency, and the amount you received from cryptocurrency sales.
- Click the "Calculate Federal Tax" button to process your data.
- The calculator will quickly estimate your federal and provincial tax obligations.
- You'll see the results, including federal tax, provincial tax, and the total tax owed.
How it's Calculated
Our Canadian Tax Calculator uses a precise method to estimate your tax liability. Here's how it's calculated:
- It starts by calculating your capital gains from cryptocurrency transactions, while we keep in mind that only 50% of the gain is taxable.
- Then, it combines your capital gains with your reported income for the year.
- Then, based on your province, it factors in additional provincial taxes based on the respective provincial tax rates.
- Finally, it sums up both federal and provincial taxes to display your total tax owed.
Federal Tax Rates Used
Tax Rate | Taxable Income Threshold |
---|---|
15% | Up to $55,867 of taxable income |
20.5% | Between $55,867 and $111,733 |
26% | Between $111,733 and $173,205 |
29% | Between $173,205 and $246,752 |
33% | On any amount taxable income exceeding $246,752 |
Province Rates
Each province in Canada has its own additional tax rates.
Alberta
Tax Rate | Taxable Income Threshold |
---|---|
10% | Up to $142,292 |
12% | Between $142,292 and $170,751 |
13% | Between $170,751 and $227,668 |
14% | Between $227,668 and $341,502 |
15% | On any taxable income exceeding $341,502 |
British Columbia
Tax Rate | Taxable Income Threshold |
---|---|
5.06% | Up to $45,654 |
7.7% | Between $45,654 and $91,310 |
10.5% | Between $91,310 and $104,835 |
12.29% | Between $104,835 and $127,299 |
14.7% | Between $127,299 and $172,602 |
16.8% | On any amount exceeding $172,602 and $240,716 |
20.5% | On any taxable income exceeding $240,716 |
Manitoba
Tax Rate | Taxable Income Threshold |
---|---|
10.8% | Up to $36,842 |
12.75% | Between $36,842 and $79,625 |
17.4% | On any taxable income exceeding $79,625 |
New Brunswick
Tax Rate | Taxable Income Threshold |
---|---|
9.4% | Up to $47,715 |
14% | Between $47,715 and $95,431 |
16% | Between $95,431 and $176,756 |
19.5% | On any taxable income exceeding $176,756 |
Newfoundland and Labrador
Tax Rate | Taxable Income Threshold |
---|---|
8.7% | Up to $41,457 |
14.5% | Between $41,457 and $82,913 |
15.8% | Between $82,913 and $148,027 |
17.8% | Between $148,027 and $207,239 |
19.8% | Between $207,239 and $264,750 |
20.8% | Between $264,750 and $529,500 |
21.3% | Between $529,500 and $1,059,000 |
21.8% | On any taxable income exceeding $1,059,000 |
Nova Scotia
Tax Rate | Taxable Income Threshold |
---|---|
8.79% | Up to $29,590 |
14.95% | Between $29,590 and $59,180 |
16.67% | Between $59,180 and $93,000 |
17.5% | Between $93,000 and $150,000 |
21% | On any taxable income exceeding $150,000 |
Ontario
Tax Rate | Taxable Income Threshold |
---|---|
5.05% | Up to $49,231 |
9.15% | Between $49,231 and $98,463 |
11.16% | Between $98,463 and $150,000 |
12.16% | Between $150,000 and $220,000 |
13.16% | On any taxable income exceeding $220,000 |
Prince Edward Island
Tax Rate | Taxable Income Threshold |
---|---|
9.8% | Up to $31,984 |
13.8% | Between $31,984 and $63,969 |
16.7% | On any taxable income exceeding $63,969 |
Quebec
Tax Rate | Taxable Income Threshold |
---|---|
15% | Up to $49,275 |
20% | Between $49,275 and $98,540 |
24% | Between $98,540 and $119,910 |
25.75% | On any taxable income exceeding $119,910 |
Saskatchewan
Tax Rate | Taxable Income Threshold |
---|---|
10.5% | Up to $49,720 |
12.5% | Between $49,720 and $142,058 |
14.5% | On the amount over $142,058 |