Reward records, average cost and a later sale
Enter each reward credit and see your average cost and the gain on a sale, shown two ways.
Each reward credit needs three numbers: the units received, the date and the CAD value that day. Averaged across credits they set your cost when you sell. In the default example, three credits worth $61.50 give a $9.00 gain on a later sale if treated as income, or $54.00 if treated as nil cost.
Figures as of November 3, 2026.
Reward credits
One row per credit: units received and the CAD price per unit that day.
| A. Income when credited | B. Not income; nil cost | |
|---|---|---|
| Income reported when credited | $61.50 | $0.00 |
| ACB per unit (average) | $75,000.00 | $0.00 |
| Capital gain on the sale | $9.00 | $54.00 |
| Taxable portion (one-half) | $4.50 | $27.00 |
How does the records tool work?
Enter each reward credit as units received and the CAD price per unit that day. The tool adds up your units and the CAD value at receipt, and computes an average cost per unit, the method CRA describes for identical property. Enter a later sale or spend, and it shows the capital gain and the taxable half under two treatments.
Why two treatments?
CRA has not published guidance on crypto cashback from card purchases. Treatment A counts each reward as income when credited, so its cost is that day’s value and only later growth is a gain. Treatment B treats the reward like a purchase rebate with nil cost, so nothing is reported on receipt but the whole sale price is a gain later. CRA does say staking rewards on a centralized platform are generally income when credited, which is closest to treatment A for staked-tier rewards.
What it leaves out
- Other units of the same coin you hold elsewhere: your average cost covers all identical units you own.
- Fees and spreads on the sale.
- The superficial-loss rule if you sell at a loss and acquire the same coin within 30 days.
- Business-income treatment if your crypto activity amounts to a business.
How to use it with your card app
Export your reward history, paste a few months of credits in, and check the average cost against your own spreadsheet. Then keep the export: CRA asks you to keep crypto records for at least six years after the last tax year they relate to.
Which treatment gives the lower tax?
It depends on what the coin does. If the price rises after rewards land, treatment A taxes the reward value up front as income and only the later rise as a half-included gain; treatment B taxes nothing at first but half of the whole sale price later. If the price falls, treatment A can create a capital loss on the sale while treatment B still reports a gain. That asymmetry is why the choice should be made with a tax professional and applied consistently.
Does this work for every verified card?
Yes, for any reward paid in units of a coin: bitcoin from Shakepay, CRO from Crypto.com, ETHFI from ether.fi (record the credit when it is claimable after the 7-day lock as well as when it was earned) and mUSD from MetaMask. For mUSD, the CAD price per unit is roughly the USD/CAD rate that day.
| Reward credits | 0.00025, 0.00026 and 0.00031 BTCcredited at $82,000, $79,000 and $66,000 per BTC |
|---|---|
| Later sale | 0.0006 BTC at $90,000 per BTC |
| CAD value when credited (all three) | $61.50 |
| Proceeds of the sale | $54.00 |
| A: gain if rewards were income when credited | $9.00average cost $75,000.00 per BTC; taxable half $4.50 |
| B: gain if rewards had nil cost | $54.00taxable half $27.00 |
Try your own credits in the reward records tool →Computed 2026-11-03.