Crypto Tax Calculator - Australia
Estimated Tax Summary
Gross Profit:
50% CGT Discount:
Net Profit (after CGT discount and fees):
Capital Gains Tax:
Profit After Tax:
Overview
What is a Crypto Tax Calculator (Australia)?
This Crypto Tax Calculator for Australia helps you estimate capital gains tax on your cryptocurrency transactions. By entering your purchase price, selling price, fees, total taxable income, and whether the asset was held for over 12 months, the tool calculates your capital gains, applies the 50% CGT discount if applicable, and estimates your tax liability based on Australian Taxation Office (ATO) rules.
How much is crypto taxed in Australia?
In Australia, cryptocurrency is treated as an asset for capital gains tax (CGT) purposes under ATO guidelines. When you dispose of crypto (e.g., sell, trade, or use it), any gain is subject to CGT. If held for over 12 months, individuals receive a 50% CGT discount, meaning only half the gain is taxable. Tax rates depend on your income: 0% for income up to $18,200, 16% for $18,201–$45,000, 30% for $45,001–$135,000, 37% for $135,001–$190,000, and 45% for income over $190,000. If crypto activities are considered a business (e.g., frequent trading), profits are taxed as ordinary income without the CGT discount.
How to declare crypto in Australia?
In Australia, you must report crypto transactions in your annual tax return. Capital gains or losses from crypto are reported under the CGT section (typically using myGov or a tax agent). Provide details of each transaction, including dates, amounts in AUD, and the nature of the event (e.g., sale, trade). Maintain records such as purchase and sale receipts, exchange records, wallet addresses, and AUD fair market values at transaction times. The ATO requires records to be kept for at least five years.
How to Calculate Crypto Taxes in Australia
To calculate crypto taxes, subtract the purchase price from the selling price to determine the gross capital gain. If the crypto was held for over 12 months, apply the 50% CGT discount to get the taxable gain. Subtract any fees to find the net taxable amount. Based on your total taxable income (including the taxable gain), identify your marginal tax rate (0%–45%). Apply this rate to the net taxable amount to calculate your CGT liability. This calculator automates the process, providing a breakdown of gross profit, CGT discount, net profit, capital gains tax, and profit after tax.
How to claim crypto losses on taxes in Australia?
Crypto capital losses can offset capital gains in the same tax year, reducing your tax liability. If losses exceed gains, you can carry forward net capital losses to offset future gains indefinitely. Report losses in the CGT section of your tax return, ensuring detailed records of transactions (dates, amounts, AUD values). For lost or stolen crypto, you may claim a capital loss if you can substantiate the loss to the ATO’s satisfaction. Keep records for at least five years, as the ATO may audit crypto transactions.
What is capital gains tax in Australia?
Capital Gains Tax (CGT) is a tax on the profit from disposing of assets, such as cryptocurrency, in Australia. The gain is calculated as the difference between the sale price and the cost base (purchase price plus fees). If held for over 12 months, individuals receive a 50% CGT discount. The taxable gain is added to your income and taxed at your marginal tax rate (0%–45%). CGT events include selling, trading, or using crypto. Always consult a tax professional for accurate reporting and compliance with ATO regulations.
