Cryptocurrency has become a significant investment for many, with almost 1 in 5 Australians owning some type of cryptocurrency for personal or investment purposes.

Understanding both the Australian income tax and record-keeping obligations is essential in correctly managing the tax issues associated with cryptocurrency ownership.

The Australian Taxation Office has made cryptocurrency transactions one of their top tax priorities.

We can provide advice in the following areas relating to cryptocurrency:

  • Income tax (including Capital Gains Tax) when investing in cryptocurrency and other related assets.
  • Advising on the tax implications for various transactions such as staking, airdrops, chain splits, forking (hard and soft) and liquidity pools and general disposals and transfers.
  • Employer tax obligations for those who make payment of cryptocurrency as remuneration to their employees.
  • Advising on the tax implications for cryptocurrency mining.
  • Conversion of cryptocurrency transactions into $AUD for taxation reporting.
  • The use of cryptocurrency when receiving payment for services or making payments.
  • Advise in relation to cryptocurrency as a personal use asset.
  • Advising on the SIS and Income tax issues for self-managed superannuation funds seeking to invest in cryptocurrency.
  • Advising on reporting and recording systems available for use.

Please contact our office if you have any questions about the taxation implications of cryptocurrency.

Fill in the form on the right, email or call (03) 9023 9370 if you have any questions about the taxation implications of cryptocurrency.