Cryptocurrency & Tax: What the ATO Is Actually Tracking

Crypto is no longer “under the radar”.

The ATO receives data directly from exchanges, so non-reporting is very easy to detect.

Is crypto taxed?

Yes.

Crypto is treated like property for tax purposes, not currency.

Most transactions trigger Capital Gains Tax (CGT).

Taxable events include:

• selling crypto for AUD

• swapping coins (BTC → ETH)

• paying for goods/services

• gifting

• using DeFi or staking rewards

Even exchanging one coin for another is a taxable event.

Example

You:

• buy Bitcoin for $5,000

• swap for Ethereum at $8,000

You’ve made a $3,000 capital gain — taxable.

Even though no cash changed hands.

Record keeping is critical

Keep:
✔ dates
✔ purchase price
✔ sale value
✔ wallet transfers
✔ fees

Without records, the ATO may estimate gains (often higher).

Can losses help?

Yes.

Crypto losses:

• offset other capital gains

• carry forward indefinitely

So don’t ignore them.

Pro tip

Use crypto software or send us your exchange CSV files — we can reconcile everything accurately.