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Expert crypto tax accountants who understand your full ATO cryptocurrency tax obligations. Get the right investment structure, resolve tax issues, and legally reduce tax on your crypto profits from $275/month.
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Whether you’re placing your first trades or managing a growing crypto portfolio, our crypto tax accountants help you set up correctly, keeping things efficient and compliant.
Our accountants know the crypto ecosystem inside and out, from staking and NFTs to swaps and DAOs. You get advice that fits ATO rules and your goals.
Crypto tax rules change fast. We stay ahead of the updates so you don’t have to; and make sure your returns are accurate, timely, and audit-ready.
Sleek’s crypto accountants reconcile your entire transaction history to calculate CGT accurately and help minimize your tax bill with expert support.
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Your crypto setup is unique and so is our support. We tailor our services to match your assets, trading strategy, and tax position, so you stay compliant and in control.
The Australian Taxation Office (ATO) recognises that cryptocurrency transactions have tax implications and considers cryptocurrency as an asset for taxation purposes. They have provided guidance on cryptocurrency taxation to ensure compliance. Cryptocurrency accountants and crypto tax advisors can help navigate these guidelines and ensure accurate reporting and calculation of taxes related to cryptocurrencies. It’s crucial to stay updated with the ATO’s stance on cryptocurrency taxation to meet your tax obligations.
In Australia, cryptocurrency is treated as an asset for capital gains tax (CGT) purposes rather than as a currency. This means that when you dispose of cryptocurrency, such as selling or exchanging it, you may be subject to CGT on any capital gains you make. The length of time you held the cryptocurrency before disposing of it determines whether it falls under the short-term or long-term CGT rules. Crypto tax advisors and cryptocurrency accountants can assist you in determining the appropriate tax rate and calculating your tax liabilities accurately based on your cryptocurrency transactions.
If you have bought and sold various cryptocurrencies throughout the year, cryptocurrency tax advisors can help you calculate your capital gains and losses. They will analyse your transaction history, consider the acquisition and disposal dates, and calculate the cost base and proceeds for each transaction. By accurately calculating your capital gains and losses, you can fulfill your tax obligations and report them correctly on your tax return. Seeking professional assistance ensures compliance with tax regulations and maximises the accuracy of your tax calculations.
Cryptocurrency airdrops or forks can have tax implications. When you receive new cryptocurrencies through airdrops or forks, they are generally considered taxable events. The tax treatment depends on whether the airdropped or forked cryptocurrency has a market value at the time of the event. Cryptocurrency tax advisors can guide you on how to report these events accurately and calculate the tax obligations associated with them. It’s essential to maintain proper documentation and seek professional advice to handle the tax implications of cryptocurrency airdrops or forks correctly.
If you earn cryptocurrency through mining, staking, or as payment for goods or services, the income generated is subject to tax. The ATO considers cryptocurrency earned in this manner as ordinary income. It is important to keep accurate records of your crypto income, including the Australian dollar value at the time of receiving it. Crypto tax advisors and cryptocurrency accountants can assist you in accurately calculating and reporting your crypto income, ensuring compliance with tax regulations and maximising deductions for eligible expenses associated with mining or staking activities.
Cryptocurrency losses can be claimed against other income or used to offset future gains. If you have incurred losses on your cryptocurrency investments, you can offset those losses against any capital gains made in the same financial year. If your losses exceed your capital gains, you can carry forward the remaining losses to offset against future capital gains. Cryptocurrency tax advisors can help you navigate these rules, maximise your deductions, and ensure you claim losses appropriately, taking advantage of any available tax benefits.
Accurate documentation and records are crucial for calculating and reporting crypto taxes correctly. You should maintain detailed records of all your cryptocurrency transactions, including dates of acquisition and disposal, cost base, proceeds, and any relevant expenses. It’s also important to keep records of the Australian dollar value of the cryptocurrency at the time of each transaction. These records will help cryptocurrency accountants or tax advisors accurately calculate your capital gains and losses.
If you have not reported your crypto income or gains in the past, take immediate action to become compliant with the ATO. Gather relevant documentation and consult a crypto tax specialist to assess your situation, calculate unreported income, and amend tax returns. Voluntarily disclose to the ATO, ensuring ongoing compliance by maintaining accurate records. Addressing this promptly is crucial as non-compliance may lead to penalties and audits. Seek professional assistance, gather documentation, disclose unreported income, and maintain accurate records for compliance.
Our services are well-equipped to handle the taxation aspects of DeFi, NFTs, and other evolving elements of the crypto space. Our team of experts stays up to date with the latest developments and tax regulations in these areas. We provide tailored guidance on the tax implications of your specific crypto activities, ensuring accurate assessment and compliance.
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