Published: February 11, 2021
Last Updated: February 11, 2021
CRA has a detailed audit questionnaire for anyone being audited for their cryptocurrency such as bitcoin, transactions. The block chain has a complete history of the cryptocurrency owner. If you have failed to report your cryptocurrency trading you are subject to tax penalties and possible tax prosecution. You will be able to avoid prosecutions and penalties by successfully filing a voluntary disclosure.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
