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  • Cryptocurrency records – business

    If you are using cryptocurrency in your business, you need to keep records of all your cryptocurrency transactions.

    On this page:

    Records required for cryptocurrency

    Cryptocurrency records information and examples.

    Information your records need to show

    Examples of types of records

    • The date of the transactions
    • The value of the cryptocurrency in Australian dollars at the time of the transaction (which can be taken from a reputable online exchange)
    • What the transaction was for and who the other party was (even if it’s just their cryptocurrency address)
    • Receipts of purchase or transfer of cryptocurrency
    • Exchange records
    • Records of agent, accountant and legal costs
    • Digital wallet records and keys
    • Software costs related to managing your tax affairs

    How long you need to keep cryptocurrency records

    You need to keep these records for five years from when you prepared or obtained the records, or completed the transactions or acts those records relate to, whichever is later.

    You should keep records long enough to cover the period of review (also known as the amendment period) for an assessment that uses information from the record.

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    Last modified: 28 Nov 2019QC 60754