Exporting from Binance
Binance provides a single comprehensive export that covers all activity types - spot trades, Earn, Savings, staking, and Launchpool products.
- Log in to binance.com.
- Click the Wallet icon and go to Asset History.
- Click the export icon and select Export Transaction Records.
- Set the time range from account opening to today, not just the tax year, and click Generate.
- Download the CSV when ready.
Upload your complete history including prior years. The calculator needs your earliest purchases to review cost basis and adjusted cost base treatment for each asset.
ACB and the superficial loss rule
CRA treats cryptocurrency as a commodity. When you dispose of crypto - selling, trading between pairs, converting dust, redeeming Earn positions - you realize a capital gain or loss. Only 50% of your net capital gain is taxable (the "inclusion rate"). This gets reported on Schedule 3 and flows into your T1 return.
A proposed increase to two-thirds inclusion for gains above $250,000 was announced in the 2024 federal budget but was later cancelled and did not take effect. Our calculator applies the standard 50% rate.
- Cost basis method: Adjusted Cost Base (ACB) - each asset maintains a weighted average cost that updates with every acquisition.
- Superficial loss rule: If you sell at a loss and repurchase the same asset within 30 calendar days (before or after), the loss is denied and added to your ACB instead.
- Taxable events: Sells, crypto-to-crypto trades, dust conversions, Earn redemptions at a gain, spending crypto on goods or services.
- Non-taxable: Buying crypto with CAD, depositing crypto, wallet-to-wallet transfers, subscribing to Earn products.
- Tax forms: T1 General with Schedule 3 (Capital Gains or Losses). Staking and Earn interest reported as business income or other income.
- Filing deadline: April 30 of the following year (e.g., 2025 tax year files by April 30, 2026).
How the report works
The calculator parses all 75+ Binance operation types - spot trades, Earn subscriptions and redemptions, Savings interest, Launchpool rewards, dust conversions, distributions, and more. Each disposal in your selected tax year gets a cost basis amount, proceeds amount, and gain or loss calculation ready for Schedule 3 review.
Binance CSVs don't include USD or CAD spot prices for most tokens. Our engine automatically enriches every transaction with historical daily prices, then converts all values to CAD. The report includes a capital gains summary, income breakdown, top assets by P&L, holdings, superficial loss adjustments, and a complete audit trail.
Binance and the CRA
Binance has a complicated history in Canada. Understanding these nuances matters for accurate reporting.
- Ontario restriction: Binance withdrew from Ontario in 2022 after the Ontario Securities Commission required registration. If you traded on Binance before the withdrawal, those transactions are still taxable and must be reported to CRA.
- CRA data collection: CRA has been actively pursuing cryptocurrency information from exchanges and has issued unnamed person requirements to obtain user data. Even though Binance doesn't issue Canadian tax slips, CRA can obtain records through other channels.
- No tax slips issued: Binance does not issue T5008s, T3s, or any Canadian tax documents. You must calculate and self-report all capital gains and crypto income.
- Multi-currency pairs: Binance trades happen in USDT, BTC, BNB, and other quote currencies - never CAD. Our calculator converts every transaction to Canadian dollars using historical exchange rates so your report is ready for CRA.
- Binance Earn in Canada: Flexible Savings interest, Locked Savings rewards, and Launchpool distributions are crypto income. CRA treats this as business income or other income depending on frequency and intent. The received tokens get an ACB equal to their fair market value at receipt.
- Dust conversions as disposals: Converting small token balances to BNB ("Small Assets to BNB") is a taxable disposal of each token. These micro-trades are easy to miss manually but our parser catches all of them.
- Superficial loss across exchanges: The superficial loss rule applies across all your accounts, not just Binance. If you sell ETH at a loss on Binance and buy ETH on another exchange within 30 days, the loss is denied. Upload your full Binance history for accurate detection.
Related calculators and guides
Binance calculator: Binance Tax Calculator (all countries)
Canada calculator: Canada Crypto Tax Calculator (all exchanges)
Other exchanges in Canada:
Coinbase Canada ·
Kraken Canada