Crypto Tax Calculator Review: Australian Tax Software

By Ben Knight October 09, 2024

Quick Summary: Is Crypto Tax Calculator (CTC) Worth It?

Figuring out your crypto taxes can be a stressful experience, especially if you use multiple exchanges and DeFi products.

Crypto Tax Calculator offers an easy way to sort out your tax obligations – and as an ‘Australian-made and owned’ company, they know exactly what you need to meet the ATO’s criteria.

The costs of CTC are tiered depending on your needs, and starting at under AU$50 a year, provides excellent value for money.

For investors who want to automate their tax-time process, while remaining confident they are ticking all of the ATO’s boxes, CTC is well worth it.

Headquarters
Sydney, Australia
Costs
Plans start at AU $49/ year

Crypto Tax Calculator offers an easy way to sort out your tax obligations – and as an ‘Australian-made and owned’ company, they know exactly what you need to meet the ATO’s criteria.

Pros

  • Over 3,500 integrations to streamline tax time for investors of all experience levels
  • Tiered pricing list to support smaller investors to professional traders
  • 4.8/5 star TrustPilot rating, indicating excellent customer service
  • Fully automate tax report generation
  • Unique Least Tax First Out algorithm to ensure customers pay the least possible in taxes
  • Integrated portfolio tracker

Cons

  • Crypto Tax Calculator does not support crypto payments at this time.

Headquarters:

Sydney, Australia

Platforms supported:

3,500+, including 2,300+ DeFi platforms

Currencies supported:

300k+

Costs:

Plans start at AU $49/ year

What You Get with CTC

  • Full support for unique ATO reporting requirements, including Australian-specific rules around personal use, mining, staking, and airdrops.
  • Up to 100,000 transactions. Crypto Tax Calculator’s Trader plan allows you to track and report up to 100,000 transactions.
  • Least Tax First Out algorithm helps keep taxes low.
  • Tailored support for DeFi Protocols, exchanges, NFTs and any other on-chain activity.
  • Over 3,500+ supported integrations including 150+ leading exchanges, 500+ wallets and an incredible 2,300+ DeFi protocols. 
  • Specifically built for accuracy.
  • Processes complex transactions across mainstream exchanges through to fringe protocols, with over 300k currencies.
  • CTC is fully automated, enabling seamless importing of transactions through a workflow that produces audit-proof tax reports.
  • The team is equipped with deep crypto tax knowledge, and support is available 24/7 to help users.
  • Intuitive user interface that quickly shows portfolio gains, losses, deposits and more.
  • Customisable transactions to ensure all data is correct and neatly sorted.
  • In-built portfolio tracker to conveniently identify gains and losses within specified timeframes.
  • Can generate over ten different reports, including income taxes, capital gains, audits and expenses.

What are the Costs?

Crypto Tax Calculator offers a tiered pricing system, paid as an annual subscription.

  • Rookie Plan: $49/year
  • Hobbyist Plan: $129/year
  • Investor Plan: $249/year
  • Trader Plan: $399/year

The Rookie plan is perfect for small-time investors, supporting up to 100 transactions, unlimited integrations and unlimited ATO reports.

Higher-volume traders might prefer the Hobbyist plan, which supports up to 1,000 transactions and also includes automated sorting of any on-chain or smart contract transaction.

Bigger investors – especially professionals – will likely benefit from the Investor (10,000 transactions) or Trader (100,000 transactions) plans, which each come with a full suite of CTC’s features.

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Who are the Founders of CTC?

Crypto Tax Calculator started when CEO Shane Brunette grew frustrated trying to solve his own crypto tax nightmare. 

In 2018, with the ambitious goal of making compliance a breeze for cryptocurrency enthusiasts and dabblers alike, Shane began collaborating with tax professionals and brought his brother and fellow software engineer, Tim, on board as co-founder. 

Fast-forward to 2024, CTC is backed by Coinbase Ventures, and funded by Airtree, 20VC and Folklore and helps hundreds of thousands of users across 22 countries complete their crypto taxes. 

What Exchanges Can I Connect?

CTC supports a massive range of integrations, whether investors use centralised exchanges or popular DeFi platforms. There are currently over 3,500 platforms to choose from, including prominent trading platforms like Swyftx, Binance, Coinbase and Independent Reserve.

There are hundreds of wallets to choose between, meaning transactions and airdrops made directly Crypto Tax Calculator offers an easy way to sort out your tax obligations – and as an ‘Australian-made and owned’ company, they know exactly what you need to meet the ATO’s criteria. wallets like Metamask or Atomic Wallet can easily be managed come tax time. 

The majority of well-known DeFi projects are supported too, making it a breeze to meet tax obligations when using liquidity mining or staking services.

How to use Crypto Tax Calculator’s Software

Using CTC’s software to calculate your taxes and generate a report for the ATO is easy for users of all experience levels.

The first step – besides creating a CTC account and choosing a subscription (or a free trial) – is to connect the relevant DeFi, exchange or wallet accounts

Connecting a wallet is as simple as entering your wallet address, while you can connect to other platforms by logging in via the CTC dashboard.

Once everything is connected, your transactions should automatically be sorted – including exchange purchases, DeFi activity and NFT sales. Now, it’s a matter of reviewing each transfer to ensure the data is correct and nothing is missing.  

Once you’ve verified everything is ready to go, you can generate your ATO-specific tax report.

Additionally, certain plans will grant access to over ten different tax reports that you can generate with the click of a button.

Ben Knight
Author

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.