Quote from: FatFork on Today at 03:32:05 PM

Quote from: NinjaBitcoiner on Today at 03:08:01 PM

If someone owns 10 BTC and move to canada for living there permanently. do he owns canada govt. any tax on that bitcoin?

No, there is no tax to buy or hold cryptocurrencies in Canada. However, if you decide to sell your cryptocurrency holdings, a tax basis may arise.

Quote

The CRA generally treats cryptocurrency like a commodity for purposes of the Income Tax Act. Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances.

source: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/digital-currency/cryptocurrency-guide.html

Quote from: NinjaBitcoiner on Today at 03:08:01 PM

Can the canada government ask for source of those BTC and how they are earned?

Yes. The government can request information about the source of your BTC, but only if it has been informed of your cryptocurrency holdings or after the sale.

Please read my questions again.

If someone buys cryptocurrency/ owns cryptocurrency before moving to canada then that means it is his capital before he become resident of canada so he should not be liable to pay tax on it in canada as this is the income from another country. no?