ethan_harrison_chef
Fri Jun 07 2024
|
6 answers
1597
How to declare crypto to ATO?｜How do I declare my crypto in my tax return? If you bought crypto as an , you only need to declare it in your income tax return when there's been a CGT event. Remember, you still need to report the CGT event even if you made a loss or are applying the personal use asset exemption.
Could you please clarify how I should approach declaring my cryptocurrency holdings to the Australian Taxation Office? I'm somewhat confused about the process. Do I need to include every transaction in my tax return? Or is it only necessary when there's been a capital gains tax event? Also, what if I've incurred losses? Am I still obligated to report those? And can I utilize the personal use asset exemption in any way? Thank you for your assistance in navigating this tax-related matter.
