How to do your Newton taxes with Koinly
A popular Canadian crypto exchange, Newton allows Canadian crypto investors to buy, sell, and trade more than 70 cryptocurrencies. Whatever your investments, Koinly can help with your Newton taxes. Here's how it works.
- Sign up to Koinly and choose your country (Canada) and currency (CAD)
- Connect Newton with Koinly to import all your Newton trades safely and securely
- Koinly categorizes Newton transactions into gains, losses and income
- Download your Newton tax report from Koinly
- File your Newton taxes online with the CRA or with your crypto tax accountant
Watch how to do your Newton taxes fast
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 to integrate Newton with Koinly using CSV
Newton has single sign-on (SSO) for Koinly users, so you can connect to Koinly straight from your Newton account. Here's how.
How to download and export your transaction history CSV file from Newton
- In the top right corner, select settings
- From the menu, select statements & reports
- Select tax reports
- Select Koinly reports
- Select download CSV report
- Select connect to Koinly.io, and you'll be taken over to Koiny to log in or sign up.
How to upload your Newton CSV to Koinly
Now you've got your Newton CSV file, here's how to upload it to Koinly.
- Sign up or login into Koinly and head to the wallets page
- Add a new wallet: Newton
- Select import from file
- 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:
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter or Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
Calculate your Newton taxes
Sign up free today to calculate your Newton taxes.
Does Newton have tax documents?
Yes. You can download your Koinly tax report - and other tax reports - straight from Newton.
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 clear 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.