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| January 2018 |
| The CRA takes the currency out of cryptocurrency |
| Michael Brown, CPA, CA, is an assistant tax manager in the Dartmouth office of Collins Barrow. |
| In recent years, digital currencies called “cryptocurrencies” have exploded in mainstream popularity. Cryptocurrencies, such as Bitcoin, Ethereum and Litecoin were once accepted by only a few online vendors, but now may be used as payment at some restaurants, retail stores and even real estate brokers. |
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| Collins Barrow periodically publishes Tax Alert for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Alert may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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