- Document may not reflect current Canada Revenue Agency position
- GST/HST rates are 13% in Ontario and 15% in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island, while the rest of Canada has a rate of 5%
- Inquiry about GST/HST application to Bitcoin mining and sale of Bitcoins
- Cryptoasset networks use a publicly distributed ledger and reward validators with cryptoassets
- New rules under section 188.2 of the Excise Tax Act apply to cryptoasset mining and related remuneration
- Section 188.2 deems mining activities not a supply for GST/HST purposes, exempting them from GST/HST
Source: taxinterpretations.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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