Bitcoin and the Tax Implication for Canadians

Bitcoin is currently the most notable digital currency. Although Bitcoins only exists in a digital form, it still provides the normal functions of other types of currency. However, unlike other common currencies such as the US Dollar, Bitcoin is not come from a Central Bank or Government and also does not face regulation from such an agency. People use Bitcoins for two major purposes: trading, and paying for goods and services. This article focuses on the tax implications of using Bitcoins for both purposes…

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