Shakepay is one of Canada's most popular Bitcoin platforms, and the tax treatment of your activity there follows the same CRA rules that apply to any other exchange.

Does Shakepay report to the CRA?

Shakepay does not report user transaction data directly to the CRA. The obligation to calculate and report your gains sits with you.

What Shakepay transactions are taxable?

Selling Bitcoin or Ethereum for Canadian dollars is a capital gains event. The difference between what you received and your Adjusted Cost Basis is your capital gain or loss. Trading one cryptocurrency for another on Shakepay is also a disposal and triggers the same calculation.

The Shake feature, which awards small amounts of Bitcoin for shaking your phone, generates income events. Each reward is taxable as income at fair market value in CAD at the time of receipt. That same value becomes your cost basis for those coins when you eventually sell.

Referral bonuses paid in Bitcoin are also treated as income at receipt.

How to import Shakepay into Summ

Summ connects directly to Shakepay and pulls your full transaction history automatically. Combined with your other exchanges and wallets, Summ calculates your ACB across your complete history and generates a tax report ready for CRA filing.

Connect Shakepay and calculate your taxes →

The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Summ disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever arising out of, or in connection with, any use or reliance on the information or advice on this website.