Shakepay & Newton Crypto Taxes Canada 2026 – CRA Reporting Guide

Shakepay and Newton are where a lot of Canadians got their start with crypto. Simple apps, easy to use. But the CRA still wants to see every trade. Here is how to get your data and file it correctly.

Do Shakepay and Newton Report to the CRA?

Short answer: yes. Both are registered Canadian Money Services Businesses (MSBs) and comply with FINTRAC. They can issue T5 slips for interest-type income, and the CRA can – and does – send data requests to Canadian exchanges. Don't assume that because it's a familiar Canadian app, it's flying under the radar. It isn't.

How to Export Shakepay Transaction History

1. Log into the Shakepay app or web version
2. Go to Profile → Transaction History
3. Request a full CSV export – either through the export feature or by emailing Shakepay support
4. The export includes dates, amounts, CAD values, and transaction types

How to Export Newton Transaction History

1. Log into your Newton account at newton.co
2. Navigate to Account → Transaction History
3. Download a CSV export for your selected date range
4. If you need multiple years, download them separately – it's cleaner that way

Shakepay Shake Sats (Daily Bitcoin)

Here's the one that trips people up. Shakepay's "Shake Sats" feature gives you small amounts of Bitcoin just for shaking your phone each day. Fun feature. But those Bitcoin rewards are taxable as ordinary income at the CAD fair market value on the day you receive them. Every single daily receipt. If you've been shaking for two years and not tracking this, that's something to address before you file.

Newton Earn

Newton's staking and earn products generate crypto rewards that are taxable as income when received. Newton may issue T5 slips for interest-type income above certain thresholds. Even if you don't get a T5, you're still required to report it.

Calculating ACB for Shakepay/Newton Trades

The CRA requires the pooled ACB method – no alternatives. Here's how it works in practice:

1. Import your complete transaction history into crypto tax software
2. The software pools all buys and calculates a running ACB per coin
3. It applies the superficial loss rule automatically for same-coin repurchases within 30 days
4. It generates your Schedule 3 capital gains summary, ready to report

Real Example & Practical Application

Here's how this concept works in a real scenario:

• Set up: You complete a transaction
• Tax implication: Calculate based on jurisdiction rules
• Documentation: Keep records for authority requirements
• Reporting: Declare properly to avoid penalties
• Outcome: Correct tax compliance achieved

Common Mistakes & How to Avoid Them

• Incomplete record-keeping: Document every transaction with date, amount, cost basis, and proceeds
• Missing documentation: Export CSV from every exchange and wallet you use
• Incorrect classification: Understand whether you're an investor, trader, or business for tax purposes
• Delayed reporting: File on time or voluntarily correct before audit – penalties are severe if caught
• Ignoring deadline: Tax deadlines are strict; missing them triggers automatic penalties

Optimization Strategies

Minimize your tax burden legally:

• Use software to track all transactions automatically and reduce manual errors
• Plan transaction timing strategically to optimize tax outcomes
• Offset losses against gains in the same tax year where possible
• Understand holding period rules in your jurisdiction
• Consult a professional for complex multi-year or multi-country scenarios

FAQ: Quick Answers

Disclaimer: This article is for general informational purposes only and does not constitute tax advice. For individual tax advice, consult a licensed tax professional.