Your quick-reference guide to how
CRA looks at losses from crypto scams
You’ll walk away knowing:
Which
crypto losses are worth pursuing and
which
ones aren’t
What usually makes the
CRA push back on loss claims
How to
sanity-check your own situation before you file
“Thank you for
putting order in the chaos.”
Client From Victoria
Crypto Scams Happen to
Serious Investors Too.
Here's what comes next.
If you lost money to a rug pull or a phishing scam, the first question most
Canadian investors ask is
"can I claim this loss on my taxes?"
It's the right question.
The answer is going to surprise you.
This guide walks you through exactly how the CRA treats crypto scam losses: what qualifies, what doesn't, and what your options are when the answer isn't
what you were hoping for.
Charlene Tessier: Canadian Crypto Tax Expert Since 2012
Most Canadian investors who come to me after a
crypto scam have already found
conflicting
information online.
None of it was written for Canadians.
I've been working with Canadian crypto investors
since 2012, and crypto scam losses are one of the
most misunderstood areas of crypto tax. The
CRA has a very specific position on this.
The
answers in this guide are
based on 13+ years
of working with Canadian crypto investors,
including the ones who took a hit from a rug pull
or a phishing scam and needed
honest answers
about what that means for their taxes.
