Does your accountant give you a blank look when you mention crypto?
We Know crypto
We were early to the game on crypto. Our experience and knowledge in the space is without comparison.
WE KNOW TAX
There are multiple scenarios which will affect the tax treatment of your crypto gains. Tax is complicated. We make it simple.
We can help you plan the tax outcome of your crypto transactions to minimise your tax.
Crypto transactions may be subject to both income and capital gains tax in Australia.
The Australian Tax Office (ATO) was very early to rule on the tax treatment of crypto. There are tax consequences for both trading and mining crypto.
We can help you get on the front-foot and avoid nasty letters, audits and penalties later.
Further, as full-service Chartered Accountants we can look at your overall tax strategy and how your crypto investments integrate.
ATO Data Matching
The ATO Data Matching Program started in 2014.
The ATO have stated that they have obtained data from numerous cryptocurrency exchanges both in Australia and overseas - these entities are referred to as Designated Service Providers (DSPs).
Information exchanged by DSPs and the ATO includes:
Digital currency owner details - Name - Address - Australian Business Number - Date of Birth - Contact numbes - Email Address - Social Media Account (Facebook, Twitter, Telegram, Reddit, Whirlpool and so on) - Status of account (open, closed, suspended, lost - Linked bank accounts - Wallet address associated with the account Lost or stolen crypto amounts linked to accounts - Unique identifier - Transaction date - Transaction time - Type of crypto - Amount (in fiat and crypto) - Type of transfer - Transfer description - Total account balances.
Holding (HODL) your crypto in your own name may not be the best way to minimise the tax on your crypto gains. We can advise on Trusts, Partnerships, SMSFs and so on.
We work with over 100 different global crypto exchanges including Coinbase, Coinspot, Binance and Bitfinex.
As Chartered Accountants we can advise on your eligible tax deductions which may help reduce your crypto tax liability.
We accept payment in all formats. We offer payment by instalment and BNPL. You can even pay us in crypto!