Shakepay logo

How to File Your Shakepay Taxes with Koinly

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

CSV File Import
Last updated: Friday, 18 November 2022

How to do 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.

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

Watch how to do your Shakepay taxes fast 

How are Shakepay transactions taxed?

The Canada Revenue Agency (CRA) are clear that crypto is subject to Income Tax, but the amount of tax you'll pay on your Shakepay transactions depends on whether you're seen as having capital gains or business income.

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.

How to integrate Shakepay with Koinly using CSV

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

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

  1. Log in to Shakepay
  2. Select wallets
  3. Next to transaction history, select download history

How to upload your Shakepay CSV to Koinly

Now you've got your Shakepay 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: Shakepay
  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 Shakepay tax reports.

How do I troubleshoot my Shakepay integration to Koinly?

Having issues uploading your Shakepay CSV file into Koinly? No problem - there's help available:

Calculate your Shakepay taxes

Sign up free today to calculate your Shakepay taxes

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.