Crypto Tax Checklist (Australia)
- Track all crypto transactions (buys, sells, swaps, airdrops)
- Record dates, amounts, and AUD values at time of transaction
- Separate personal use assets from investment holdings
- Calculate capital gains/losses for each disposal event
- Include staking, yield farming, and rewards as income
- Log fees paid to exchanges or wallets
- Export CSV reports from exchanges and wallets
- Use ATO-compliant software or consult a registered tax agent
- Declare crypto income and capital gains in your tax return
- Retain records for at least 5 years
Frequently Asked Questions
Do I need to pay tax on crypto gains?
Yes. Capital gains tax applies when you sell, swap, or gift crypto. The ATO treats crypto as property, not currency.
Is staking income taxable?
Yes. Staking rewards are considered ordinary income and must be declared at their AUD value when received.
What if I only used crypto for personal purchases?
If crypto was used solely for personal use and under $10,000, it may be exempt. However, documentation is essential.
Can I offset crypto losses?
Yes. Capital losses can offset gains in the same financial year or be carried forward to future years.
Do I need to report crypto held overseas?
Yes. The ATO requires disclosure of foreign assets, including crypto held on international exchanges.
What tools can help with crypto tax?
Platforms like
Koinly,
CryptoTaxCalculator, and
CoinTracking
offer ATO-compliant reports. Always verify accuracy before submission.