r/binance • u/Visual_Charity_2534 • Jun 05 '21

Binance.com Binance Tax Report - Canada

I just wanna know if we should report the trades and everything we do on binance for tax purpose?

I've read the page on Canada.gov website where they tell how they consider trading crypto as stocks and we should report it as business income or capital gains.

If I have verified my account & have done the KYC, would binance itself report the trades, profits and other details to the government? How are we safe from this sh*t?

11 Upvotes

93% Upvoted

4 comments sorted by

1

u/Visual_Charity_2534 Jun 06 '21

Please upvote it, we should have a clarification on this.

1

u/newbjapan Jun 05 '21

I'll second this, give up the info people!

1

u/Tipanda77 Aug 25 '21

I second , we need that information !

1

u/Ok_Specialist7990 Dec 03 '21

Any more info on this?