Australia Crypto Tax Calculator 2024

This free tool allows you to calculate taxes on cryptocurrency gains and losses. Whether you're a seasoned investor or new to crypto, our calculator simplifies how to calculate crypto taxes, including short-term and long-term gains.

How to Calculate Cryptocurrency Tax in Australia (2024)

Step 1: Determine Your Capital Gain or Loss

Start by determining the difference between your purchase price and sale price of your cryptocurrency. This amount is your capital gain or loss.

Example: You bought crypto for AUD 5,000 and sold it for AUD 8,000. Your capital gain would be AUD 3,000.

Step 2: Check if Your Holding Period Qualifies for the CGT Discount

In Australia, if you've held your crypto assets for over 12 months, you're eligible for a 50% capital gains tax (CGT) discount. This means only half of your capital gain is taxable.

Example: With a gain of AUD 3,000 from Step 1, if held for over 12 months, only AUD 1,500 would be subject to tax.

Step 3: Calculate Taxable Income from Crypto

The taxable gain (from Step 2) is added to your other income for the year to determine the final tax rate. Use the following table to check which tax bracket applies.

Taxable IncomeTax Rate
Up to AUD 18,2000%
AUD 18,201 – AUD 45,00019%
AUD 45,001 – AUD 120,00032.5%
AUD 120,001 – AUD 180,00037%
Above AUD 180,00045%

Step 4: Use the Calculator

Enter your purchase and sale prices, select "Australia" as your country, and choose your holding period. The calculator will estimate the tax based on the data entered.

Example Scenarios

Example 1: Short-Term Holding (Less than 12 months)

You bought crypto for AUD 2,000 and sold it for AUD 5,000 within 10 months. No CGT discount applies, so the full AUD 3,000 gain is added to your income and taxed.

Example 2: Long-Term Holding (More than 12 months)

You bought crypto for AUD 5,000 and sold it for AUD 10,000 after 2 years. The gain is AUD 5,000, but with the 50% CGT discount, only AUD 2,500 is taxable.

Example 3: Additional Income

If you have a taxable gain of AUD 2,500 and other income of AUD 45,000, your total taxable income becomes AUD 47,500. Based on this bracket, your tax rate will be 32.5%.

Additional Resources

For more details, refer to the Australian Taxation Office (ATO) official guidelines on crypto assets.

Frequently Asked Questions (FAQs)

How do I use the crypto tax calculator in Australia?

To use the crypto tax calculator Australia, input your transaction details such as purchase price, sale price, and holding period. The calculator will automatically determine your capital gains or losses based on Australian Tax Office (ATO) guidelines.

How are crypto gains taxed in Australia?

In Australia, crypto gains are taxed as capital gains. If you hold your crypto for more than 12 months, you may qualify for a 50% capital gains tax discount. The crypto tax calculator Australia can calculate this for you.

Does the calculator account for capital gains tax discounts?

Yes, the crypto capital gains tax Australia calculator applies the 50% discount for long-term holdings of over 12 months, following ATO guidelines.

Can I use a free crypto tax calculator in Australia?

Yes, we offer a free crypto tax calculator Australia version that allows users to calculate taxes on their crypto transactions without any cost.

How do I calculate crypto taxes in Australia?

Use the crypto tax calculator Australia to input your transaction details. The tool calculates your capital gains or losses and applies the relevant tax rates based on ATO rules.

What information do I need to calculate my crypto taxes?

To calculate your crypto taxes in Australia, you need details like the purchase price, sale price, holding period, and other income (for tax bracket determination), and any associated fees. The Australian crypto tax calculator will use this data to determine your tax liability.

Is staking income taxable in Australia?

Yes, staking income is treated as ordinary income and taxed at your marginal tax rate. The crypto tax calculator Australia can help you include this income in your tax calculations.

How do I report crypto gains to the ATO?

After using the Australian crypto tax calculator, generate a detailed report of your transactions. This report can be included in your annual tax return for submission to the ATO.

What is the best crypto tax calculator for Australia?

The best crypto tax calculator Australia provides accurate calculations, supports multiple transactions, and follows ATO guidelines. Our calculator meets these criteria, making it a reliable choice for Australian crypto users.