Cryptoassets – Taxable Benefits
Cryptoassets are considered property, not currency, because they are not legal tender in Canada.
Generally, if you use cryptoassets to pay an employee, the payment is considered a benefit in kind. The value of the benefit is the fair market value of the cryptoassets, in Canadian dollars, at the time of payment.
You have to include the value of this benefit in boxes A and L and, where applicable, in box G of the employee's RL-1 slip (see courtesy translation RL-1-T). For more information, go to the Benefit Provided to an Employee page.
See the Virtual Currency and Cryptocurrency page for more information.