- The ATO can match your crypto transactions with your tax return, even if you only buy and sell small amounts.
- Swapping crypto, spending it, or trading between different coins can trigger a CGT event, even if you never cash out into AUD.
- If you haven’t reported your crypto correctly to the ATO, you can amend previous returns. Coming forward voluntarily can help you avoid bigger penalties.
Got crypto? The tax office probably already knows.
Australian crypto exchanges provide data on your transactions to the ATO, says Mathieu Mingant, who’s worked at crypto tax platform Summ for 5 years.
“The ATO has had a data matching program for years and obtains…
