Crypto Tax and Accounting in Australia
Serious crypto requires serious tax and accounting. We help Australian investors, traders and builders meet ATO requirements, pay no more tax than necessary and stay audit‑ready. We speak staking, DEXs, NFTs, DAOs and on‑chain data, and we translate it into clean, defensible numbers.
Based in Roseville, Sydney, serving Australia‑wide.
Why choose The Tax Accountant for crypto?
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ATO‑compliant approach that matches how the ATO treats crypto assets, income and CGT events
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Koinly and API integrations across supported exchanges and wallets to reduce manual work and errors
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DeFi‑aware treatment for liquidity pools, staking, yield, lending, perpetuals and cross‑chain activity
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Fixed‑fee packages for investors and high‑volume traders, no surprises
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Forensic‑grade reconciliations when data is messy, wallets are offline or history is incomplete
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Audit‑ready files packaged the way the ATO expects, including workpapers and evidence
Tip: Use wallets and exchanges that support reliable API or CSV exports, preferably Koinly‑compatible, to cut accounting time and cost for high‑volume trading.
What we cover
Investors and HODLers
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Acquisitions and disposals, swaps, transfers and chain reorganisations
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CGT calculations with 12‑month discount where eligible
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Personal use asset assessment where applicable
Traders and high‑frequency users
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Treatment of trading as investment or business
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Derivatives, margin and perpetuals, funding and liquidation events
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FX translation, fees and gas tracking
Staking, yield and DeFi
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Staking rewards and airdrops as income
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Liquidity pool entries and exits, wrapping and unwrapping, bridging
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Lending and borrowing, interest, collateral liquidations
NFTs and digital collectibles
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Mints, purchases, sales and royalties
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Creator income, GST and business activity where relevant
Mining and validation
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Revenue recognition and deductible costs
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Equipment depreciation and electricity apportionment
Lost, stolen or scam‑affected assets
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Evidencing loss, claiming deductions or capital loss where applicable
Our process
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Scoping call - We confirm your activity, volume and goals, and we map data sources.
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Data capture and cleaning - We connect Koinly where possible. For offline wallets and unsupported platforms we import CSV, public addresses or node exports. We standardise time zones and translate fiat values.
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Reconciliation - We match deposits, withdrawals and internal transfers, we resolve missing cost base, and we label non‑taxable events.
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Tax treatment - We apply the correct CGT or ordinary income treatment. We assess eligibility for small business CGT concessions where a crypto business is carried on. We calculate any discounts or losses carried forward.
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Reports and filing - We prepare ATO‑ready schedules, workpapers and a summary letter. We lodge your return or provide files to your existing accountant.
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Future‑proofing - We advise on a better wallet and exchange setup, with APIs and a record‑keeping checklist, so next year is faster and cheaper.
Record‑keeping checklist
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Exchange, wallet and DeFi platform list, including public addresses
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API keys or CSV exports, date ranges and formats
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Fiat on‑ramp and off‑ramp records, bank statements for fiat transfers
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Transaction notes for unusual items, gifts, donations or related‑party transfers
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Evidence of lost or stolen assets, support tickets and police reports where relevant
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For mining or nodes, equipment invoices, run logs and energy bills
FAQs, crypto tax in Australia
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Is crypto taxed as income or capital gains? It depends on the activity. Selling, swapping or spending a crypto asset is usually a CGT event. Staking rewards, airdrops, mining and some DeFi returns are usually ordinary income when received. CGT may also apply when you later dispose of those coins.
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Do I get the 50 percent CGT discount? If you are an individual and you hold a crypto asset for at least 12 months before disposal, you may be eligible for the 50 percent CGT discount. It does not apply to assets held by companies.
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What is a personal use asset for crypto? Crypto used mainly to buy items for personal use or consumption may be a personal use asset. The exemption is narrow and does not apply where you hold crypto for investment, or where there is a significant time between acquisition and use.
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How is staking taxed? Staking rewards are generally assessable as ordinary income at the time you receive the rewards. When you later dispose of those rewards, CGT can apply based on the cost at receipt and proceeds on disposal.
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How is DeFi taxed? DeFi can create income, or trigger CGT on changes in beneficial ownership. Entries and exits from pools, wrapping and unwrapping and bridging can be taxable depending on the protocol. Good records are essential.
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Do I need to register for GST? Buying or selling digital currency itself is generally input‑taxed, not subject to GST. However, if you run a business that supplies services for consideration, GST may apply. We will advise based on your facts.
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Will the ATO see my crypto? The ATO runs data‑matching programs with exchanges and other sources. You should assume the ATO will see activity reported by domestic and many offshore providers.
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I used wallets without API access and it is a mess, can you fix it? Yes. We do forensic clean‑ups. Where possible we rebuild cost bases from the chain, CSVs and bank statements. We will also recommend a cleaner setup going forward.
Notes for our clients
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Prefer wallets and exchanges that support reliable API or exporters like Koinly
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Keep your public addresses list updated in a shared document
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Label internal transfers promptly to avoid double counting
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Always export CSVs at quarter end to create checkpoints
Legal
This page is general information only, not tax advice. Advice depends on your circumstances. Engage us for tailored advice.