Canada's Tax Agency Targets $40M in Uncollected Crypto Taxes as Trudeau Seeks Major Capital Gains Hike
The agency estimates that there is nearly $40 million in undeclared taxes related to digital currencies. Concurrently, Prime Minister Justin Trudeau is proposing an increase in capital gains taxes from 50% to 66% for any Canadian taxpayer whose gains exceed $183,000 annually
CRA Seeks $40 Million in Uncollected Cryptocurrency Taxes
Canada's Revenue Agency (CRA) is actively searching for uncollected taxes on cryptocurrencies, according to a report by the National Post. The agency estimates that there is nearly $40 million in undeclared taxes related to digital currencies. Concurrently, Prime Minister Justin Trudeau is proposing an increase in capital gains taxes from 50% to 66% for any Canadian taxpayer whose gains exceed $183,000 annually.
