Your top crypto tax questions answered
Words by James Quinn-Kumar, Director of Community Engagement, Binance Australia and New Zealand
Over the past year, Bitcoin (BTC) has soared by over 94 per cent and is now valued at more than AUD $188,000 following two consecutive record highs in July alone.
Stablecoins also surged to reach a combined market cap of USD $250 billion for the first time, while Ethereum (ETH) rebounded.
More than 30 per cent of Australians now hold crypto in their investment portfolios, and strong performance means many investors will have healthy gains to report.
Binance welcomed a panel of crypto taxation experts to help take the stress and confusion out of this year’s tax return.
Here are your top 5 questions answered…