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  • Crypto asset transactions

    Most activities involving crypto assets amount to a transaction, which gives rise to a CGT event.

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    Transactions amounting to a CGT event

    A CGT event happens when you dispose of your crypto asset.

    If there is a CGT event, you may make either a capital gain or capital loss on the disposal of the crypto asset. If you make a capital gain, you may pay tax on it.

    A transaction involving a disposal takes place when you do any of the following:

    • sell a crypto asset
    • gift a crypto asset
    • trade, exchange or swap a crypto asset for another crypto asset
    • convert a crypto asset to Australian or foreign currency (otherwise known as 'fiat currency')
    • buy goods or services with a crypto asset.

    Other rules may apply depending on how you're using crypto assets for business transactions.

    Our crypto asset data-matching program matches what you report in your tax return with data on crypto asset transactions and accounts from designated service providers. This helps us identify the buyers and sellers of crypto assets and quantify transactions.

    To make tax time easier see our summary, tax-smart tips for crypto asset investments.

    Valuing crypto assets in Australian dollars

    You need to know the value of your crypto asset to determine if you make a capital gain or capital loss on the CGT event happening.

    To work out the value of your crypto assets when you acquire or dispose of them you will need to convert their value to Australian dollars. Use the exchange rates on a reputable digital currency exchange at the time of the transaction to work out the value of your crypto assets.

    You will need to keep crypto asset transaction records. You can then work out your CGT using our online calculator and record keeping tool.

    Last modified: 19 Aug 2022QC 69948