GST/HST when your business accepts crypto-assets
Status as of October 30, 2026. If a GST/HST registrant accepts a crypto-asset as payment for taxable supplies, the CRA says GST/HST is calculated on the fair market value (FMV) of the crypto-asset at the time of the transaction. This page explains that rule, the difference between virtual payment instruments and other crypto-assets, and the rates in effect since April 1, 2025. It is general information, not tax advice; confirm your situation with the CRA or a CPA.
Key points
- A registrant that accepts crypto-assets for taxable supplies calculates GST/HST on their FMV at the time of the transaction (CRA page dated November 10, 2025).
- Supplying a virtual payment instrument, such as bitcoin or ether, is an exempt financial service.
- Supplies of other crypto-assets are likely taxable supplies of intangible personal property.
- The rates below are those in effect on or after April 1, 2025; Nova Scotia's HST went from 15% to 14% that day.
The basic rule
The CRA's GST/HST guidance on crypto-assets (dated November 10, 2025) says that when a GST/HST registrant accepts a crypto-asset as payment for a taxable supply, GST/HST is calculated on the crypto-asset's FMV at the time of the transaction.
If you price a sale in Canadian dollars and accept the crypto-asset equivalent, record both the CAD price and the crypto-asset's CAD value at that moment, along with how you determined it. If the two figures differ, ask a CPA which one your filing should reflect.
The income tax side follows a similar logic: the CRA treats paying with crypto-assets like barter and uses FMV in Canadian dollars. See crypto payments and business income.
Virtual payment instruments and other crypto-assets
The CRA draws a line between two kinds of crypto-asset. This distinction is about supplying the crypto-asset itself, which is a separate question from the tax on the goods or services you sell. When a customer pays you, two things change hands: your goods or services, and the customer's crypto-asset. The basic rule above applies to your taxable supply either way.
| Category | Examples named by the CRA | Treatment of supplying it |
|---|---|---|
| Virtual payment instrument | Bitcoin, ether | Exempt financial service |
| Other crypto-assets | None named here | Likely a taxable supply of intangible personal property |
Whether a particular token is a virtual payment instrument or another crypto-asset depends on its features, and this site does not classify tokens. If it matters to your filings, for example because you also sell or exchange crypto-assets, confirm the treatment with the CRA or a CPA.
Rates in effect since April 1, 2025
PST, RST and QST are separate provincial taxes with their own rules. Confirm how they apply to your supplies, and to payments made in crypto-assets, with the province concerned. Which rate applies to a sale depends on the rules for where a supply is made, so check current CRA guidance rather than assuming your own province's rate. Rates can change; check the CRA's rate calculator before relying on this table.
| Province or territory | GST or HST | Provincial sales tax |
|---|---|---|
| Alberta | 5% GST | None |
| British Columbia | 5% GST | 7% PST |
| Manitoba | 5% GST | 7% RST |
| New Brunswick | 15% HST | Included in HST |
| Newfoundland and Labrador | 15% HST | Included in HST |
| Northwest Territories | 5% GST | None |
| Nova Scotia | 14% HST (15% before April 1, 2025) | Included in HST |
| Nunavut | 5% GST | None |
| Ontario | 13% HST | Included in HST |
| Prince Edward Island | 15% HST | Included in HST |
| Quebec | 5% GST | 9.975% QST |
| Saskatchewan | 5% GST | 6% PST |
| Yukon | 5% GST | None |
A worked illustration
Suppose a registrant sells a $1,000 taxable service and accepts a crypto-asset assumed to be worth $1.37 per unit at the time of payment. These are illustrative assumptions, not market data or a price. Both columns assume the province's taxes apply to the supply.
You can reproduce this with your own province and price in the crypto receipt record tool, which also records the CAD value and rate you used.
| Item | Ontario | British Columbia |
|---|---|---|
| Price before tax | $1,000 | $1,000 |
| GST or HST | $130 HST (13%) | $50 GST (5%) |
| Provincial sales tax | None | $70 PST (7%) |
| Total due | $1,130 | $1,120 |
| Units due at $1.37 per unit | 824.82 | 817.52 |
Records for GST/HST
For each sale paid in a crypto-asset, keep enough to show the tax you charged and the value it was based on. These fields line up with the CRA's income tax record expectations, so one record can serve both. The record-keeping checklist brings the CRA and FINTRAC fields together.
- the invoice number, date and time
- the CAD price and the GST/HST, and any PST, RST or QST, charged
- the crypto-asset received, the amount and its FMV in Canadian dollars at the time
- the rate source you used to determine FMV
- the transaction hash and the receiving address
Questions to take to the CRA or a CPA
The rules summarized here answer the main question, but several details depend on your own business. These are worth raising before your first filing that includes crypto-asset payments, rather than after.
- If my invoice price in dollars and the crypto-asset's FMV at payment differ slightly, which figure should my GST/HST be based on?
- Which rate source is acceptable for determining FMV, and how should I document it?
- How should I treat a refund paid in a crypto-asset whose value has moved since the sale?
- If I later sell or exchange the crypto-assets I received, does that create a separate supply I need to consider, given the distinction between virtual payment instruments and other crypto-assets?
- How do provincial sales taxes in my province treat sales paid in crypto-assets?
- Do I need to change how I claim input tax credits on fees paid to a payment provider?
Steps before you accept a crypto-asset
Settling these points before the first sale avoids rebuilding records later.
- Confirm your GST/HST registration status and filing period with the CRA.
- Decide whether you will price sales in Canadian dollars or in the crypto-asset, and document the choice.
- Choose and document a rate source for FMV at the time of each payment.
- Set up invoices that show the CAD price, the tax and the crypto-asset amount; the invoice builder sandbox lets you try a layout with no real funds.
- Plan how refunds will work, since crypto-asset payments are generally irreversible; see refunds on-chain.
- Ask a CPA to review the setup before your first filing period.
Questions people ask
Do I charge GST/HST on a sale paid in crypto?
If you are a registrant making a taxable supply, the CRA says GST/HST is calculated on the FMV of the crypto-asset at the time of the transaction.
Is bitcoin exempt from GST/HST?
The CRA describes supplying a virtual payment instrument, such as bitcoin or ether, as an exempt financial service. That concerns supplying the asset itself, not the goods or services you sell in exchange for it.
Did Nova Scotia's HST rate change?
Yes. It went from 15% to 14% on April 1, 2025.
Does this page cover PST, RST and QST?
Only the rates. They are provincial taxes, so confirm how they treat crypto-asset payments with the province concerned.
Sources
- CRA — GST/HST and crypto-asset transactions
- CRA — GST/HST rate calculator
- CRA — Income from crypto-asset transactions
Reviewed October 30, 2026. Educational information only; not financial, legal, tax or investment advice. This site does not process payments or hold funds.