Taxes

T5007 Statement of Benefits Canada Guide

The T5007 form, also known as the Statement of Benefits, is a slip used to report workers’ compensation benefits or social assistance rendered by organizations, workers’ compensation boards, social services agencies, and other related organizations in Canada. In this article, you will find all you need to know about the T5007, how to file and …

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How Bitcoin Tax Works in Canada

Although it does not officially recognize bitcoin and other cryptocurrencies as a currency or legal tender, the Canada Revenue Agency (CRA) has announced that Canadian taxpayers will now be required to pay taxes on bitcoin and cryptocurrency earnings.   They highlighted that Cryptocurrency itself is to be treated as a commodity. And by extension, the Canada …

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