With the Australian financial year closing on 30 June, the ATO has refreshed its guidance for cryptocurrency taxpayers. The agency says improved data-matching with exchanges means undeclared gains are easier to detect than ever.
How the ATO Classifies Activity
- Investor: CGT applies on disposal; 50% discount if held 12+ months
- Trader: Profits taxed as ordinary income
- Miner/validator: Rewards taxed at market value when received
Record-Keeping Checklist
| Document | Why it matters |
|---|---|
| Trade history CSV | Cost base calculations |
| Wallet addresses | Transfer matching |
| DeFi contract logs | Yield classification |
Steps Before 30 June
- Export complete transaction logs from every platform used.
- Separate personal wallets from business accounts.
- Consider voluntary disclosure if prior years were incomplete.
Licensed tax agents report a surge in crypto-specific lodgement appointments across Sydney and Melbourne.
