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MetaMask Tax Calculator Canada

The CRA treats crypto-to-crypto swaps as disposals subject to Canadian capital gains rules. Canada uses Adjusted Cost Base (ACB) - not FIFO - and the 50% inclusion rate applies to net capital gains. Paste your MetaMask address and DYOR.tax calculates ACB across your complete on-chain EVM history for Schedule 3 reporting.

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Steps 3-5

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Start with MetaMask, then optionally merge exchange data for a complete ACB calculation across your full history for CRA Schedule 3 reporting.

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🇨🇦 ACB method ⚖ 8,000+ DeFi protocols 💰 Max 5 wallets
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Merge exchange history for a more complete tax picture.

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Drop your exchange CSV here
Choose the exchange, then drop the file or .

Choose the exchange you want to merge, then export its full transaction history:

  • Coinbase: accounts.coinbase.com → Statements → Generate custom statement → All time, CSV
  • Binance: Wallet → Asset History → Export Transaction Records → Generate (UTC timezone)
  • Kraken: Profile icon → Documents → Create Export → Ledger, full history, CSV → Generate (arrives as .zip)

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Read-only wallet scan No sign-up required Supports 41+ EVM chains ACB cost basis
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ACB Cost Basis

Adjusted Cost Base calculated across your full MetaMask and exchange history. Running average updated with every acquisition, including DeFi rewards and airdrops.

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Superficial Loss Detection

Disposals followed by reacquisition within 30 days flagged automatically. Denied losses added back to ACB to prevent double-counting.

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41+ EVM Chains

One address covers Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and 35+ more. CAD conversion at historical Bank of Canada rates.

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Schedule 3 Ready

Capital gains summary formatted for Schedule 3 reporting. Income from staking and DeFi rewards reported separately from capital gains.

Simple, one-time pricing

No subscriptions. Pay once per tax year.

Up to 50 events
$29
51 – 100
$39
101 – 500
$49
501 – 1,000
$59
1,001 – 3,000
$79
3,001 – 5,000
$99
5,001+
$129

How the CRA taxes MetaMask activity

The CRA treats cryptocurrency as a commodity, not currency. Every token swap in your MetaMask wallet - via Uniswap, 1inch, MetaMask Swaps, or any other DEX - is a disposition of the token you sent and an acquisition of the token you received. The gain or loss is the difference between the proceeds and the Adjusted Cost Base (ACB) of the units disposed of.

Whether gains are on capital account or income account depends on the facts, including trading frequency, holding period, and intent. The CRA generally accepts capital treatment for investors but may characterize frequent trading activity as business income, where the full gain (not 50%) is included in income.

ACB for wallet-held tokens

Under ACB, the cost per unit of each token is the running weighted average of all your acquisitions. Every time you acquire more of a token - whether through a purchase, a DeFi reward, a swap, or an airdrop - your ACB per unit is recalculated.

This is different from FIFO. With FIFO, the oldest units are sold first and your cost depends on when each specific lot was acquired. With ACB, there is one average cost per token across all lots. DYOR.tax applies ACB across your merged MetaMask and exchange history, so tokens bought on Coinbase and moved to MetaMask share the same ACB pool as tokens acquired directly on-chain.

The 50% capital gains inclusion rate means only half your net capital gains are added to taxable income. The inclusion rate is 50% under current law - the proposed 2/3 increase was cancelled.

Superficial losses and DeFi

The superficial loss rule in Section 54 of the Income Tax Act denies a capital loss if you or an affiliated person acquires the same or identical property within 30 days before or after the sale. The denied loss is added to the ACB of the repurchased units.

For MetaMask users, this commonly occurs when you swap out of a token to realize a loss, then swap back into the same token within the 30-day window. Buying the same token on a centralized exchange within 30 days of an on-chain disposal can also trigger the rule. DYOR.tax flags potential superficial loss situations in your report.

DeFi and staking income in Canada

DeFi rewards, staking income, and liquidity mining returns received into your MetaMask wallet are commonly reported as income depending on the facts and characterization of the activity. The income value is the fair market value in CAD on the date received. That value also becomes the ACB of the tokens received, affecting future capital gains calculations.

The CRA has noted that crypto received as payment for services or from activities that constitute a business are treated as business income. For passive DeFi staking, the treatment depends on the facts - consult a Canadian tax adviser for complex DeFi positions.

Related calculators and guides

All countries: MetaMask Tax Calculator
Canada country page: Canada Crypto Tax Calculator
Other MetaMask countries: MetaMask USA · MetaMask UK · MetaMask Australia

DeFi guides: Uniswap Tax Calculator · Aave Tax Calculator · DeFi Lending Taxes · Airdrop Taxes

Frequently Asked Questions

No. MetaMask is a self-custody wallet and does not send tax documents to the CRA. You are responsible for reporting all MetaMask disposals and income on your T1 return using Schedule 3 for capital gains. The CRA treats all crypto disposals, including on-chain swaps, as taxable events.

Canada uses Adjusted Cost Base (ACB), not FIFO. ACB is a running weighted average cost across all your acquisitions of each token. DYOR.tax applies ACB across your complete MetaMask and exchange history, including tokens acquired via DeFi protocols, rewards, and airdrops.

The CRA's superficial loss rule denies a capital loss if you reacquire the same token within 30 days of a sale. For MetaMask users, this can apply to on-chain disposals followed by reacquisition via a DEX or exchange. The denied loss is added to the ACB of the repurchased units. DYOR.tax flags potential superficial losses in your report.

The inclusion rate is 50% under current law. Only half your net capital gains from MetaMask disposals are included in taxable income, which is then taxed at your marginal rate. The proposed 2/3 increase was cancelled, so the 50% rate remains in effect.

Staking and DeFi rewards received into your MetaMask wallet are commonly reported as income depending on the facts. The income value is the CAD fair market value on receipt. That value becomes the ACB of the tokens received, affecting future capital gain or loss calculations on disposal.