Is cryptocurrency taxed in Australia?

Yes. The ATO treats cryptocurrency as property, not currency. This means it is subject to capital gains tax (CGT) whenever you sell, trade, swap, gift, or spend crypto. You must report all crypto disposals in your tax return and calculate the capital gain or loss for each transaction.

What triggers a CGT event for crypto?

A CGT event is triggered when you: sell crypto for AUD or another fiat currency, trade one crypto for another (e.g. BTC to ETH), use crypto to pay for goods or services, gift crypto to someone, or convert crypto to a stablecoin. Simply buying crypto with AUD and holding it does not trigger a CGT event. Transferring between your own wallets is also not a CGT event.

How does the 50% CGT discount work for crypto?

If you hold cryptocurrency for more than 12 months before selling, you are entitled to a 50% discount on the capital gain as an Australian resident individual. Only half the gain is added to your taxable income. For example, if you bought Bitcoin for $10,000 and sold it 18 months later for $20,000, only $5,000 of the $10,000 gain would be taxable. The discount does not apply to companies or if the asset was held for 12 months or less.

Can I offset crypto losses against other gains?

Yes. Capital losses from crypto can be used to offset capital gains from any other CGT asset, including shares, property, and other crypto. If your total capital losses exceed your capital gains for the year, the unused losses are carried forward to future years. However, capital losses cannot be used to reduce your ordinary income such as salary or wages.

Do I need to report small crypto transactions?

Generally, yes. All crypto disposals must be reported regardless of size. However, a personal use exemption may apply if the crypto was acquired and used for personal goods or services (not held as an investment) and the total cost of the crypto was under $10,000. This exemption is narrow — the ATO considers most crypto to be held as an investment, especially if kept on an exchange. When in doubt, report the transaction.

Crypto Tax Calculator — CGT on Cryptocurrency

Calculate capital gains tax on Bitcoin, Ethereum and crypto sales. See your CGT with the 50% discount for holdings over 12 months.

Last verified: 1 July 2025

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General information and estimates only — not financial, tax, or legal advice. Always verify with a licensed adviser or the ATO.

Crypto Tax Calculator — CGT on Cryptocurrency

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