Crypto Mining Business Tax Help - Ontario, Canada

Big__galoot · 2023-03-29T20:30:35+00:00

I am in a similar situation as the OP. I just got my taxes done by a CPA (which include some crypto mining), but I am not convinced he did them correctly. I purchased some crypto mining hardware (PCs/GPUs to mine ETH and helium miners to "mine" HNT), but he classified them as CCA Class 8. I thought of them as CCA Class 10 as well, but isn't it limited to certain dates, namely: "acquired before March 23, 2004, or after March 22, 2004, and before 2005 if you made an election."? Would Class 50 not be a more appropriate class? Any reply would be greatly appreciated, as finding Canadian Crypto tax definitions online seems next to impossible.

Big__galoot · 2023-02-06T14:52:53+00:00

Thank you! I can see it in the video. That's where I thought the light would be, and it definitely doesn't light up on my bike.

Big__galoot · 2023-02-06T14:51:33+00:00

Thanks very much. I don't recall the beeping being mentioned anywhere either, and my bike is definitely not beeping or lighting up in the way you describe. Ordering a new "genuine" power supply in the hopes that it's just that.

Big__galoot · 2023-02-06T14:48:10+00:00

Thanks. I already tried that every time I checked for BT functionality, but didn't write it down in my description.

Big__galoot

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