ACCOINTING.com.com, a leading crypto tax and portfolio tracking platform, is the perfect solution for filing your Australian Crypto Tax Report. The Australian Tax Office (ATO) has created clear guidelines to help people file their cryptocurrency taxes each year.
ACCOINTING.com makes it easy to file your crypto taxes in full compliance with the ATO by allowing you to import over 300 of the most used exchanges and wallets to then process all of the transactions you have made during the year. With the help of ACCOINTING.com, you will be able to enter your entire year of cryptocurrency activity into the system and find out whether you have gained or lost money in total, and how much in taxes you may owe or are able to tax-loss harvest in the event of an overall loss.
Crypto tax software like ACCOINTING.com makes the process easy to handle for anyone, regardless of their crypto tax knowledge. When a capital gain or loss is made from cryptocurrency, it is calculated by taking the market value of the cryptocurrency in Australian Dollars at the time of disposal. Whether you are an investor or active trader, ACCOINTING.com has the tools to help you process a fully compliant tax return for the Australian Tax Office. Investors from Australia benefit from a long-term 50% capital gains discount on their taxes if they hold their cryptocurrency for over 12 months without making any buys or sells on what they were holding.
ACCOINTING.com’s robust crypto tax software can efficiently calculate all capital gains tax and income tax to then report to the ATO each year. Without using a software like ACCOINTING.com to do your crypto taxes, the process would be increasingly difficult with each extra exchange, wallet, trade, and other activity that is needed to be accounted for on the tax report.
Regardless whether you use cryptocurrency as an investment, receive staking rewards and airdrops, or use crypto for personal use, ACCOINTING.com is a great option to handle all of your crypto tax needs. There are a wide range of scenarios when dealing with cryptocurrency when it comes to classifying whether a transaction, deposit, withdrawal, or sale is categorised as a taxable event.
Handling a mixed basket of cryptocurrency transaction scenarios is one of ACCOINTING.com’s many specialties. Those people who actively buy, trade, earn airdrops, mine cryptocurrency, earn staking rewards and more can easily input their transaction data into the ACCOINTING.com system to find out which actions they made that were taxable or tax free.
This information is crucial when submitting an accurate tax report to the ATO in relation to crypto activity each year. In addition, users who sell, swap, use crypto as payment, for gambling, gifts, interest paid, lost funds, and more can use ACCOINTING.com to get accurate and efficient advice on what needs to be reported as taxed and what can be used to save money from harvesting potential losses.
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