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We Are Your Professional Crypto Tax Accountants

Cryptotax
Hwh Internals Circle

Over 1 million Australians have invested in cryptocurrencies. And yet, many crypto investors are unaware that they need to pay tax on their crypto gains – until they get audited, of course.

The Australian Government started collecting records on individual crypto accounts in 2019 to ensure individuals were tax compliant. This means that if you have (or have had) an account with a designated crypto service provider at any time, you could be contacted by the Australian Tax Office (ATO) and may be required to provide records of any cryptocurrency transactions.

The Australian Government doesn’t recognise crypto as a currency – rather, it views it as an asset, the same way as it might view property. It is a Capital Gains Tax (CGT) asset, which means you need to declare your crypto transactions every time you trade, sell, or use crypto. As with other CGT assets, there are plenty of ways to benefit from CGT discounts and therefore minimise the tax you pay on your crypto.

It’s important to understand that the Australian Government also treats individuals differently based on how they are using and trading cryptocurrencies. Depending on your situation, you may be required to pay tax on any gains you make – or you could even be due for a tax refund if you had crypto losses.

Crypto tax is a niche area of accounting, and it’s still very unfamiliar to most accountants – even those with decades of experience. If you invest in crypto it’s crucial that you have an experienced crypto tax accountant to help you formulate an ongoing tax strategy that will maximise your deductions and minimise your taxes.

Our seasoned cryptocurrency accountants will work closely with you, providing a tailored tax solution to suit your personal circumstances. Whether you’re experiencing a one-off audit or you need ongoing crypto tax planning, they can help. But not only that – they will also educate you on the best way to prepare for tax time and structure your crypto investments to minimise your taxes.

Our expert cryptocurrency tax agents offer a wealth of expertise in the world of crypto tax and trading.

We can help you with:

  • Tax Planning Strategies. Learn to assess your projected gains and losses for your cryptocurrencies so you can take advantage of the market
  • Tax Reports and Record Keeping. We can advise you on which records you need to keep when it comes to trading with crypto and assist you in exporting historical crypto transactions when needed.
  • Tax Returns. We can assist with accounting for cryptocurrency trading by preparing your annual tax return.

If you invest in cryptocurrencies (or have in the past), seek the advice of an expert now so you can start preparing for tax time. Get in touch with our specialist crypto accountants on the Gold Coast today.

Frequently Asked Questions
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