Crypto Corner: Is your crypto portfolio ready for 2025 tax rules?

Welcome to Crypto Corner, presented by BTC Markets, where each episode we explore the latest in crypto market trends. In this edition, BTC Markets’ Head of Finance Charlie Sherry and Nick Christie, Co-founder of Syla, dive into the growing complexity of crypto tax reporting and the tools now available to help investors stay compliant and informed.

Nick highlights how fragmented wallets, frequent trading, and collapsed exchanges have left many investors with incomplete records. For SMSFs and trusts, the stakes are even higher. Accurate reporting and full portfolio visibility are essential for audit readiness.

“If you can’t reconcile your crypto holdings to your balance sheet, especially for an entity like an SMSF, that’s a major problem when it comes to audit time.”

With tax rules becoming more complex and regulatory scrutiny increasing, Nick says that manual spreadsheets and patchwork systems no longer cut it. In response, Syla built a real-time tax dashboard to help users track activity and categorise transactions. It also supports income and capital gains reporting, particularly useful for high-frequency traders or those using multiple chains and exchanges.

“We’re trying to build toward that point where your tax position is visible year-round, not just at the end of June.”

The ATO has also clarified expectations for lost or unrecoverable assets. For investors who lost access to crypto during events like the FTX or Celsius collapse, Nick emphasises the importance of documentation and proper transaction classification when claiming capital losses.

Looking ahead, Nick sees momentum building toward standardised tax reporting frameworks. With developments like the OECD’s Crypto-Asset Reporting Framework (CARF), and broader ATO guidance, real-time, automated tax reporting could soon become the norm.

The episode provides timely, practical guidance on how to stay ahead of crypto tax obligations and avoid common pitfalls this financial year.

Watch the full episode on Ticker News.

View all episodes of Crypto Corner.

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