Taxation of crypto assets

The Australian Taxation Office (ATO) treats cryptocurrencies as property for tax purposes, not currency. This means that crypto transactions are subject to Capital Gains Tax (CGT).

When you dispose of cryptocurrency, whether through selling, trading, or using it to purchase goods or services, you must report the capital gain or loss. Additionally, if you earn cryptocurrency through mining, staking, or as payment for services, it is considered ordinary income and must be declared.

Keeping detailed records of all transactions, including the date, value, and purpose, is crucial for accurate tax reporting.

Read our Tax Help support article, to learn more.