Coinberry believes that the information provided in this section is reliable and is provided to the best of our ability based on the information available to us, however this information may not reflect all required adjustments.Join Coinberry
Updated: March 24, 2021
This tax section and information found within is provided to the registered account holder (the "Account Holder") registered with Coinberry exclusively and not to any other person. All information provided is provided on an "as is" basis without warranty of any kind, either expressed or implied. Coinberry Limited including its related companies, affiliates, contractors, agents and/or employees (together, "Coinberry") disclaim all warranties, expressed or implied, including, without limitation, those of merchantability and fitness for a particular purpose. Coinberry does not warrant that this information is without errors.
It is the Account Holder's obligation to review this information carefully and notify Coinberry immediately of any errors, omissions or objections, including any transactions that you did not authorize.
Coinberry believes that the information provided in this section is reliable and is provided to the best of our ability based on the information available to us, however this information may not reflect all required adjustments. The information provided in this section should not be used for the purpose of tax reporting as certain events are dependent on individual circumstances.
Crypto Currency Information
The value of cryptocurrency assets, including any profits and losses, are based on the information available to Coinberry utilising Coinberry's systems. The costbase of any cryptocurrency asset referred to in this section is based on a weighted cumulative average of all purchase and sale transactions of the respective cryptocurrency asset, with actual values derived from Account Holder's activity report.
For cryptocurrency assets which were transferred into the Account Holder's Coinberry account without indicating a cost base, Coinberry assigns a value to such cryptocurrency asset equal to the "ask" value of such cryptocurrency at the time of the transfer. This value may be significantly different from the actual, original cost base of the cryptocurrency asset. For cryptocurrency assets transferred out of the Account Holder's Coinberry account, Coinberry assigns a value equal to the cost base of such cryptocurrency asset, to reflect the fact that no fiat currency or any other proceeds were received by the Account Holder. It is the AccountHolder's obligation to review all information found within carefully and notify Coinberry immediately of any errors, omissions or objections.
Any information provided in this section is for the information of the Account Holder exclusively and is not intended to provide legal, investment, financial, accounting or tax advice. If the Account Holder requires any such advice, the Account Holder should retain the services of a competent professional.
Crypto Taxes: Buying & holding
Buying cryptocurrency is not a taxable event
Crypto Taxes: Selling & trading
The sales of crypto must be reported to CRA
Proceeds minus the average adjusted cost base
All crypto gains and losses are reportable
Keep records of your cryptocurrency transactions
Capital gains and losses vs. Business income
Have You Heard?
Coinberry is Now Backed by Financial Bonding Insurance!
We are now backed by a form of insurance that protects against financial losses due to dishonest acts and unethical behavior from Coinberry employees.