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How to File Your Newton Taxes with Koinly

Newton pairs perfectly with Koinly to make crypto tax easy! 🤝Sync Newton with Koinly to calculate your crypto taxes fast. ⚡ Connect in minutes! 🖱️

CSV File Import
Last updated: Friday, 18 November 2022

How to do your Newton taxes with Koinly

A popular Canadian crypto exchange, Newton allows Canadian crypto investors to buy, sell, trade and stake more than 70 cryptocurrencies. Whatever your investments, Koinly can help with your Newton taxes. Here's how it works.

  1. Sign up to Koinly and choose your country (Canada) and currency (CAD)
  2. Connect Newton with Koinly to import all your Newton trades safely and securely
  3. Koinly categorizes Newton transactions into gains, losses and income
  4. Koinly calculates your Newton Capital Gains Tax and Newton Income Tax
  5. Download your Newton tax report from Koinly
  6. File your Newton taxes online or with your crypto tax accountant

Watch how to do your Newton taxes fast

How are Newton transactions taxed?

The CRA are clear that crypto is subject to Income Tax, but the amount tax you'll pay on your Newton transactions all depends on your specific transaction and how you're viewed as an investor - specifically, whether you have capital gains or business income.

Does Newton report to the CRA?

Newton is registered as a Money Service Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC have a shared reporting process with the CRA. In other words, yes Newton may be required to disclose customer data to the CRA if requested.

How do I file my Newton taxes?

You'll need to calculate and report any capital gains, losses or income from your Newton investments to the CRA. You'll do this as part of your annual tax return, and there's a couple of ways you can do this.

How to integrate Newton with Koinly using CSV

You'll need to start by downloading a CSV file with your full trading history from Newton before you can upload it to Koinly - here's how.

How to download and export your transaction history CSV file from Newton

  1. Log in to Newton
  2. Select the three line icon (settings) in the top right corner
  3. From the new menu, select tax report
  4. Select export next to Koinly version

How to upload your Newton CSV to Koinly

Now you've got your Newton CSV file, here's how to upload it to Koinly.

  1. Sign up or login into Koinly and head to the wallets page
  2. Add a new wallet: Newton
  3. Select import from file
  4. Upload your CSV file(s)

Important

1. When downloading your CSV files, check that the file covers your full trading history.

2. Don't forget to tag your airdrops and forks. This will ensure that they show up correctly as income on your Newton tax reports.

How do I troubleshoot my Newton integration to Koinly?

Not sure your Newton import into Koinly is correct? Fear not, we have lots of helpful resources:

Calculate your Newton taxes

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Does Newton have tax documents?

According to Newton’s website, they do not “provide tax, legal or accounting advice”, which includes tax reports. You can, however, use your transaction history to create a tax report using a crypto tax app - like Koinly.

How do I get my tax report from Newton?

The simplest way to get your Newton tax report is to connect to crypto tax software like Koinly. You can do this by uploading a CSV file of your Newton transaction history. Your crypto tax calculator will then calculate your Newton taxes for you and generate your Newton tax documents.

Do I have to pay taxes on Newton?

Yes. If you have capital gains or income from your Newton investments, then you must pay tax on it. The CRA is very clearly that crypto is subject to Income Tax and they do not look kindly on tax evaders.

Does Newton provide financial or end of year statements?

No, Newton does not supply a financial statement, but you can use a crypto tax app like Koinly to generate one.