How to File Your Shakepay Taxes with Koinly
Shakepay is a popular Canadian crypto exchange, helping more than 1 million Canadian crypto investors buy, sell, trade, and spend crypto (and earn cashback). Whatever your Shakepay investments, Koinly can help you do your Shakepay taxes.
Follow these steps to download your ShakePay data:
- Log in to Shakepay.
- Select wallets.
- Select download history, next to transaction history.
- Import your file into Koinly.
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find ShakePay in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from ShakePay (one at a time) and click on Import
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
Does Shakepay report to the CRA?
Yes, Shakepay reports to the Canada Revenue Agency. As a licensed Money Service Business, Shakepay is obliged to report transactions over $10,000 to the CRA at the end of each fiscal year.
How do I file my Shakepay taxes?
Canadian crypto investors report any capital gains or income from crypto investments to the CRA as part of their annual tax return, via their preferred filing method - whether that's paper forms, via an accountant, or using tax filing software like TurboTax or H&R Block. Koinly can help however you prefer to file, all you need to do is upload a CSV file of your Shakepay transaction history.
Your frequently asked questions
Does Shakepay provide a tax report?
No, Shakepay does not provide a tax report. But you can use your Shakepay transaction history to calculate your crypto taxes and create a Shakepay tax report using a crypto tax app.
How do I get Shakepay tax documents?
Getting your Shakepay tax documents is easy with Koinly. Just get your Shakepay CSV file, upload it to Koinly and Koinly will generate a range of crypto tax reports with your Shakepay transactions depending on how you prefer to file with the CRA.
Do I pay taxes on Shakepay?
Yes. If you have capital gains or income from your Shakepay investments, you must pay tax on them. The CRA is clear crypto is subject to Income Tax and the penalties for tax evasion are severe.
How do I connect my Shakepay to Koinly?
Just follow the CSV instructions above to connect Shakepay to Koinly and calculate your Canada crypto taxes in minutes.
Does Shakepay provide financial or end of year statements?
No, Shakepay doesn't supply a financial statement. But you can use your Shakepay transaction history to create a financial statement to use in your tax report. You can generate your transaction history as a CSV file from your Shakepay account.