Are you seeking the best Crypto Bitcoin tax management solution in Australia? You may relax knowing that your crypto tax returns will be prepared by our skilled crypto tax accountants! Our dependable Chartered Accountants will ensure that you satisfy all of your Australian crypto tax duties and comply with the ATO.
Our Australian Crypto Tax Return Services
Our inexpensive crypto tax return solution appeals to all crypto enthusiasts, whether you’re a business, investor, trader, miner, or simply a crypto dabbler.
Determining how to declare your actions to the ATO regarding the Australian crypto tax might be challenging. Don’t worry; our reputable crypto tax professionals are here to guarantee that your crypto tax is correctly and accurately reported.
Our crypto tax returns start at $450, including GST, and give you the benefit of:
- Proactive lodgements by a qualified accountant
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- Affordable fixed-fee pricing with zero hidden costs
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Cryptocurrency Tax FAQ
If cryptos are traded not frequently and held long term, then they are treated as investments and are subject to capital gains tax laws. In this case, no ABN is required.
If they are traded frequently for short-term gains, they are treated as a business, in which case an ABN number is required.
Yes, any gain is subject to Tax.
Capital gains tax is applicable when any investment, such as rental property, share investments, or other long-term investments, such as bitcoins or crypto, is sold for a gain.
Any capital gains on investments are added to our taxable income, and we pay the same rate as we will be paying for that slab of income threshold that we would pay for our PAYG income.
The good news is that we have held the investment for more than 1 year then we get a 40% discount on the gain.
If the sale results in a loss, it is carried forward to later income years and offsets any future gains.
No
Only if the investor sells for a loss or there are carried forward losses from prior years can offset the current year’s gain.
Yes, a financial planner’s advice should be taken to check further regulations on viable investments. A tax agent cannot give advice in relation to investment through SMSF. Please take a piece of advice from your financial planner.
Do I have to pay tax on cryptocurrency in Australia?
According to ATO, you can’t avoid tax while trading and investing in cryptocurrency in Australia.