The income year runs 1 July to 30 June
Every sale, swap or spend of crypto between 1 July and 30 June belongs to that income year. Gains and losses are worked out per transaction, in Australian dollars, at the time each one happened.
- Swapping one coin for another counts, even if you never cashed out to dollars.
- Moving coins between your own wallets or exchange accounts is not a sale.
Lodging yourself: usually 31 October
If you lodge your own return, it is generally due by 31 October after the income year ends. Late lodgement can attract penalties, so lodge on time even if you still owe tax.
- myTax pre-fills some information, but it won’t work out crypto gains for you.
- Check the ATO website for the current year’s dates and any changes.
Using a tax agent can give you longer
Registered tax agents have a lodgement program with later due dates for many clients, often into the following year. You usually need to be on the agent’s client list before 31 October to get it.
- Ask the agent what they need, usually exchange exports and wallet addresses.
- Only use agents listed on the Tax Practitioners Board register.
The ATO already sees exchange data
The ATO collects data from Australian crypto exchanges and matches it with tax returns. Leaving crypto off your return is risky even when the amounts are small.
- Keep exports from every exchange you used, including closed accounts.
- If you made a mistake on a past return, you can amend it.
Your next steps.
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Sources & fact check
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- ATO: crypto asset investments
- ATO: transactions acquiring and disposing of crypto assets
- ATO: keeping crypto records
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