capital gains on bitcoin | BTCC Knowledge

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How much is capital gains tax on Bitcoin?

If you buy bitcoin or cryptocurency and hold it for over a year, you would be liable to pay long-term capital gains tax when you sell, which is typically levied at a rate that is between 15% and 20% depending on your level of income. The rate of capital gains tax is typically 15% on profits.

What is a capital gain in crypto?

A capital gain is the profit or loss you make from trading or selling any asset, including crypto: Let's take the example above where our cost basis for 1 BTC was $40,200. You sold that BTC for $42,000 and you realize a capital gain of $1,800.

What is the capital gains tax rate?

The rate of capital gains tax is typically 15% on profits. However, if household income exceeds $479,000 (for married couples) or $425,800 (for individuals), then the rate of capital gains tax is 20%.

How does the NTA tax bitcoin?

The NTA treats profits on bitcoin and other cryptocurrencies as miscellaneous income, and is therefore subject to capital gains tax at rates of 15%-55%, due to it being legally classified as ‘ property ‘. Salaried employees that make a cryptocurrency capital gain of less than 200,000 yen within a fiscal year are not taxed on those gains.