In Canada, using Bitcoin for purchases is considered a barter transaction. Transactions using a cryptocurrency are subject to GST/HST and any gain or loss arising on the disposition of the cryptocurrency can be considered business income or a capital gain or loss and depends on the circumstances of the transaction.
On 20 March 2018, Nova Scotia Finance and Treasury Board Minister Karen Casey tabled the province’s fiscal 2018–19 budget. The budget contains a few tax measures affecting individuals and corporations.
The Canadian Agricultural Partnership (CAP), launched in the 2018 Program year, is a five-year federal-provincial-territorial funding agreement that governs agriculture-specific programs including Business Risk Management (BRM) programs such as Crop Insurance, AgriStability, Western Livestock Price Insurance and AgriInvest.
Finance Minister Bill Morneau has tabled this year's federal budget, which has a significant focus on gender equity, funding for First Nations and health care. The budget also includes more on private corporations and passive income.
We offer Lunch & Learn sessions across Canada on various topics for farm and small business owners. Let us know if you would like us to talk to your group. Our farm tax and small business tax workshops consist of a 30 minute presentation, followed by a question and answer period where you can get your tax questions answered by one of our local tax consultants.