How to compute au-crypto-tax for Australia, tax year 2025: rates, thresholds, and step-by-step rules with primary-source citations.
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Self-lodgement filing deadline
31 OctoberIncome Tax Assessment Act 1997; ATO myTax lodgement requirements
Income tax year (2024-25)
1 July 2024 -- 30 June 2025Income Tax Assessment Act 1997
Individual marginal rate -- $0 to $18,200
0%Income Tax Rates Act 1986
Individual marginal rate -- $18,201 to $45,000
16%Income Tax Rates Act 1986
Individual marginal rate -- $45,001 to $135,000
30%Income Tax Rates Act 1986
Individual marginal rate -- $135,001 to $190,000
37%Income Tax Rates Act 1986
Individual marginal rate -- $190,001+
45%Income Tax Rates Act 1986
Tax-free threshold (lower band ceiling)
$18,200Income Tax Rates Act 1986
Personal use asset exemption -- maximum acquisition cost
< $10,000Income Tax Assessment Act 1997, s 118-10
CGT discount for individuals and trusts (asset held 12+ months)
50%Income Tax Assessment Act 1997, Div 115
CGT discount for companies
Not availableIncome Tax Assessment Act 1997, Div 115
Capital loss carry-forward period
Indefinite (offset against future capital gains only)Income Tax Assessment Act 1997, s 102-15
Minimum holding period to qualify for 50% CGT discount
12 months (acquisition to disposal)Income Tax Assessment Act 1997, Div 115
Default cost base where acquisition cost unknown
$0 (maximum gain)Income Tax Assessment Act 1997, Div 110
Hard fork tokens -- cost base at receipt
$0ATO Cryptocurrency guidance (updated 2024)
Token migration/hard fork -- new token cost base
$0ATO Cryptocurrency guidance (updated 2024)
Hobby miner -- mined coins cost base
$0ATO Cryptocurrency guidance (updated 2024)
Airdrop of worthless / no-market token -- assessable income
$0 income; cost base = $0ATO Cryptocurrency guidance (updated 2024)
Record retention period after lodgement
5 years from date of lodgement of the return in which the gain/loss is reportedIncome Tax Assessment Act 1997; Taxation Administration Act 1953
Record retention period for assets still held
Until 5 years after eventual disposalIncome Tax Assessment Act 1997; Taxation Administration Act 1953
Capital gains reporting -- tax return item number
Item 18 (Capital gains)ATO Individual tax return (myTax / paper return)
Ordinary crypto income reporting -- tax return item number
Item 24 (Other income)ATO Individual tax return (myTax / paper return)
CGT events -- governing division
Income Tax Assessment Act 1997, Div 104Income Tax Assessment Act 1997, Div 104
CGT exemptions -- governing division
Income Tax Assessment Act 1997, Div 118Income Tax Assessment Act 1997, Div 118
Bitcoin as CGT asset -- ruling reference
TD 2014/26TD 2014/26
DeFi tax treatment -- practice compliance guideline
PCG 2023/1PCG 2023/1
CoinSpot market buy/sell -- platform fee rate
0.1%CoinSpot exchange fee schedule
CGT discount -- superannuation funds
1/3 discount (not 50%)Income Tax Assessment Act 1997, Div 115
CGT discount -- non-residents
Not availableIncome Tax Assessment Act 1997, Div 115
Quick Reference
Quick Reference
| Field | Value |
|---|---|
| Country | Australia (Commonwealth of Australia) |
| Tax | Income Tax -- Cryptocurrency / Digital Assets |
| Currency | AUD (all gains/income must be reported in AUD) |
| Tax year | 1 July 2024 -- 30 June 2025 |
| Primary legislation | Income Tax Assessment Act 1997, Div 104 (CGT events), Div 118 (exemptions) |
| Supporting guidance | ATO Cryptocurrency guidance (updated 2024); TD 2014/26 (Bitcoin as CGT asset); PCG 2023/1 (DeFi) |
| Tax authority | Australian Taxation Office (ATO) |
| Filing portal | myTax / tax agent lodgement |
| Filing deadline | 31 October (self-lodgement); agent-managed deadlines vary |
| Skill version | 1.0 |
The ATO treats cryptocurrency (including Bitcoin, Ethereum, stablecoins, NFTs, and DeFi tokens) as a CGT asset, not as foreign currency. Each disposal triggers a CGT event.
Individual Marginal Tax Rates (2024-25)
| Taxable Income (AUD) | Rate |
|---|---|
| 0 -- 18,200 | 0% |
| 18,201 -- 45,000 | 16% |
| 45,001 -- 135,000 | 30% |
| 135,001 -- 190,000 | 37% |
| 190,001+ | 45% |
Key Thresholds
| Item | Value |
|---|---|
| Personal use asset exemption | Acquisition cost < $10,000 |
| CGT discount (held 12+ months) | 50% for individuals and trusts |
| CGT discount -- companies | Not available |
| Capital loss carry forward | Indefinite (offset against future capital gains only) |
Conservative Defaults
| Ambiguity | Default |
|---|---|
| Unknown acquisition date | No 50% discount available |
| Unknown cost base | $0 (maximum gain) -- obtain records |
| Unknown whether personal use or investment | Treat as investment (CGT applies) |
| Unknown whether trading or investing | Treat as investor (CGT, not ordinary income) |
| DeFi event -- unknown character | Treat as disposal (CGT event) |
CGT Events (Disposals)
| Event | CGT Triggered? |
|---|---|
| Sell crypto for AUD (or fiat) | Yes |
| Trade one crypto for another (e.g., BTC → ETH) | Yes -- disposal of BTC at market value |
| Use crypto to purchase goods/services | Yes -- disposal at market value |
| Gift crypto to another person | Yes -- market value at time of gift |
| Send crypto to an exchange for sale | No (transfer to own wallet is not disposal) |
| Transfer between own wallets | No -- same beneficial ownership |
| Lost/stolen crypto (no private key) | Possible CGT event -- must demonstrate irrecoverability |
A CGT event occurs when you:
Cost Base Calculation
| Element | Included in Cost Base |
|---|---|
| Purchase price in AUD | Yes |
| Exchange fees / commission on acquisition | Yes |
| Gas fees on acquisition transaction | Yes |
| Exchange fees / commission on disposal | Reduces capital proceeds (or included in cost base of new asset in swap) |
| Wallet transfer fees (own wallets) | Included in cost base of the asset |
| Subscription to portfolio tracking tool | Included (third element -- ownership costs) |
Available if:
Personal Use Asset Exemption Conditions
| Condition | All Must Be Met |
|---|---|
| Acquired for personal use (e.g., to purchase goods) | Yes |
| Acquisition cost < $10,000 | Yes |
| Used within a short time of acquisition | Yes |
| NOT held as an investment | Yes |
| NOT held for exchange/trading purposes | Yes |
Trading vs Investing
| Factor | Investor (CGT) | Trader (Business Income) |
|---|---|---|
| Volume of transactions | Low to moderate | High frequency, systematic |
| Holding period | Weeks/months/years | Minutes/hours/days |
| Purpose | Long-term growth | Profit from short-term price movements |
| Organisation | Casual / part-time | Business-like, significant time commitment |
| Capital employed | Personal savings | Significant working capital |
| Tax treatment | Capital gains (50% discount available) | Ordinary income (no CGT discount, no capital loss restrictions) |
| Losses | Capital losses only | Business losses (offset all income) |
Staking Rewards
| Treatment | Detail |
|---|---|
| Classification | Ordinary income at market value when received |
| Timing | Assessable in the income year the reward is received/controlled |
| Cost base for future CGT | Market value at date of receipt becomes cost base |
| Holding period for CGT discount | Starts from date of receipt |
Airdrops
| Type | Treatment |
|---|---|
| Airdrop with no action required | Ordinary income at market value on receipt (if established market value exists) |
| Airdrop requiring action (e.g., claim transaction) | Ordinary income when claimed |
| Airdrop of worthless/no-market token | $0 income; cost base = $0 |
| Subsequent disposal | CGT event -- cost base is value at receipt |
DeFi Specific Events
| DeFi Action | Tax Treatment |
|---|---|
| Wrapping (e.g., ETH → WETH) | ATO view: likely a disposal (CGT event). Conservative: treat as disposal at market value |
| Unwrapping (WETH → ETH) | Disposal of WETH, acquisition of ETH |
| Providing liquidity (LP tokens) | Disposal of deposited tokens; acquisition of LP token at combined market value |
| Removing liquidity | Disposal of LP token; acquisition of underlying tokens |
| Yield farming rewards | Ordinary income at market value when received |
| Borrowing against crypto (collateral) | Not a disposal (no change of beneficial ownership). BUT if liquidated -- CGT event |
| Bridge transactions (cross-chain) | Conservative: treat as disposal + acquisition |
| Token migration/hard fork | New token acquired at $0 cost base; not assessable until disposed |
Treated identically to other crypto assets. Purchase = acquisition (CGT asset). Sale = disposal (CGT event). Creating and selling an NFT = ordinary income if in the business of creating them, otherwise CGT.
Exchange Patterns -- Coinbase
| Pattern | Treatment | Notes |
|---|---|---|
| BUY [CRYPTO] | Acquisition | Cost base = AUD amount + fee |
| SELL [CRYPTO] | Disposal (CGT event) | Proceeds = AUD received |
| CONVERT [CRYPTO A] TO [CRYPTO B] | Disposal of A + acquisition of B | Market value at time of convert |
| COINBASE EARN / LEARN REWARD | Ordinary income | Market value at receipt |
| STAKING REWARD | Ordinary income | Market value at receipt |
| SEND / RECEIVE (own wallet) | Not a CGT event | Transfer -- no gain/loss |
| WITHDRAWAL TO BANK | Not a CGT event | Fiat transfer (already sold) |
Exchange Patterns -- Swyftx
| Pattern | Treatment | Notes |
|---|---|---|
| BUY ORDER | Acquisition | Cost base = AUD equivalent + spread/fee |
| SELL ORDER | Disposal (CGT event) | Proceeds = AUD credited |
| SWAP [A] FOR [B] | Disposal of A + acquisition of B | Market value at execution |
| STAKING REWARD | Ordinary income | Market value at receipt |
| DEPOSIT AUD | Not taxable | Fiat deposit |
| WITHDRAWAL AUD | Not taxable | Fiat withdrawal |
Exchange Patterns -- CoinSpot
| Pattern | Treatment | Notes |
|---|---|---|
| MARKET BUY | Acquisition | Cost = AUD paid + 0.1% fee |
| MARKET SELL | Disposal (CGT event) | Proceeds = AUD received (net of 0.1% fee) |
| SWAP | Disposal + acquisition | Two CGT events |
| AFFILIATE PAYMENT | Ordinary income | |
| REFERRAL REWARD | Ordinary income | Market value at receipt |
| AIRDROP | Ordinary income (if value > $0) | |
| SEND TO EXTERNAL WALLET | Not a CGT event | Own-wallet transfer |
On-Chain Patterns
| Pattern | Treatment | Notes |
|---|---|---|
| UNISWAP / SUSHISWAP SWAP | Disposal + acquisition | Two CGT events at market value |
| LP DEPOSIT (ADD LIQUIDITY) | Disposal of tokens, acquisition of LP token | |
| LP WITHDRAWAL (REMOVE LIQUIDITY) | Disposal of LP token, acquisition of tokens | |
| CLAIM REWARDS | Ordinary income | Market value at time of claim |
| BRIDGE [TOKEN] TO [CHAIN] | Conservative: disposal + acquisition | |
| MINT NFT | Acquisition | Cost base = mint price + gas |
| APPROVE / REVOKE (no transfer) | Not a CGT event | Gas fee adds to cost of next related transaction |
The ATO requires the following records for each transaction:
Record-Keeping Requirements
| Record | Required |
|---|---|
| Date of acquisition | Yes |
| Date of disposal | Yes |
| Amount in AUD at time of transaction | Yes |
| Purpose of the transaction | Yes |
| Exchange/wallet records | Yes |
| Counterparty details (if applicable) | Yes |
| Exchange rate used (AUD conversion) | Yes |
| Agent/exchange fees | Yes |
Mining
| Scenario | Treatment |
|---|---|
| Hobby miner (small scale) | Mined coins acquired at $0 cost base; CGT on disposal |
| Business miner (significant scale) | Ordinary income at market value when mined; trading stock rules may apply |
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