Holders, staking, NFT’s, traders, dumpers, bot operators, personal use – this is the page for you
You have some crypto, maybe have done a few trades, maybe spent on a new Porsche. Now what do you do about your tax consequences?
What You Need to Know
You are required to lodge any earnings from your Crypto Currency Trading to the Australian Tax Department. Often people think that because they are trading outside of Australia, they don’t have to disclose their earnings. This is incorrect, all Australian’s must disclose their crypto trading earnings.
We won’t make this complex for you, but we will need some of the records below to be able to assist you.
- CSV/Spreadsheets of your exchanges and wallets revealing all your trades.
- A record of each Cryptocurrency you currently own as of 30th June.
- Records of any costs, just as hardware wallets, monthly fees or mining/staking costs.
- Some traders have online cryptocurrency booking accounts such as Coin Training.
- So , we will need to see a file or have access.
- Document reports of all transactions for trade shares are bound to received form brokers
- These financial reports classify the ownership of shares, you own as of 30th June.
- Any tax-deductible expenditure, we can discuss this in more details.
