Frequently asked questions01.How is crypto tax calculated in Electric Bike Conversion Australia?
You may be responsible for each capital profits and profits tax depending on the sort of cryptocurrency transaction, and your invididual circumstances. For example, you may want to pay capital gains on income from shopping for and selling cryptocurrency, or pay profits tax on hobby earned when preserving crypto.02.I misplaced cash buying and selling cryptocurrency. Do I nevertheless pay tax?
The way cryptocurrencies are taxed in Australia imply that traders might nevertheless want to pay tax, no matter in the event that they made an standard earnings or loss. Depending for your occasions, taxes are generally realised at the time of the transaction, and now not on the overall function at the end of the financial year.03.How do I calculate tax on crypto to crypto transactions?
In Australia you’re required to file the cost of the cryptocurrency in your neighborhood currency on the time of the transaction. This can be extraordinarily time eating to do by means of hand, due to the fact that maximum change records do not have a reference charge point, and information between exchanges aren’t without problems like minded.04.How can CryptoTaxCalculator help with crypto taxes?
You just need to import your transaction history and we will help you categorise your transactions and calculate realised income and earnings. You can then generate an appropriate reviews to ship on your accountant and keep unique statistics on hand for audit functions.05.Can’t I just get my accountant to try this for me?
We constantly propose you figure with your accountant to review your records. If you would love your accountant to help reconcile transactions, you can invite them to the product and collaborate within the app. We also have a entire accountant suite aimed toward accountants.06.Do you handle non-alternate pastime?
We manage all non-trade pastime, along with onchain transactions like Airdrops, Staking, Mining, ICOs, and different DeFi interest. No matter what hobby you have got finished in crypto, we have you blanketed with our clean to use categorisation function, just like Expensify.07.I have not carried out my crypto taxes on account that 2017. Do
I should pay for every economic 12 months?
Our subscription pricing is per 12 months no longer tax yr, so with an annual subscription you may calculate your crypto taxes as far back as 2013. The method is the equal, just add your transaction history from these years and we will handle the relaxation.08.How does payment paintings?
We have an annual subscription which covers all previous tax years. If you need to ammend your tax return for previous years you’ll be covered below the only charge. We also offer a 30 day 100% money again assure, wherein if you contact our aid team you could accumulate a full refund.09.Can I use my very own accountant?
Yes, CryptoTaxCalculator is designed to generate accountant pleasant tax reports. You really import all your transaction records and export your file. This manner you may get your books updated your self, permitting you to save tremendous time, and decrease the invoice charged through your accountant. You can talk tax situations together with your accountant, and feature them review the file.10.What if my alternate isn’t always at the list of supported exchanges?
We cowl hundreds of exchanges, wallets, and blockchains, however in case you do no longer see your alternate on the supported listing we are greater then glad to paintings with you to get it supported. Just attain out to [e-mail included] or thru the in-app chat help feature and we can get you looked after.