Australians investing in crypto urged to understand key tax time obligations

10 August 2026

Chartered Accountants ANZ (CA ANZ) is urging cryptocurrency owners to understand their obligations this tax season, as the Australian Taxation Office (ATO) continues to increase scrutiny of digital asset transactions.

With one in three Australians (33 per cent) now owning digital assets, according to the 2026 Independent Reserve Cryptocurrency Index, the peak accounting body is reminding taxpayers to ensure they understand how their crypto activity is taxed and to maintain accurate records.

"The digital asset landscape has become increasingly complex, from Bitcoin and Ethereum to NFTs," CA ANZ Australian Tax Leader Susan Franks said.

"Some investors have made significant gains, while others have suffered losses in a volatile market. Regardless of the outcome, tax needs to be considered when crypto is disposed of, including when converted into Australian dollars, foreign currency or other digital assets."

How crypto is taxed

“A taxable event occurs whenever a crypto asset is disposed of,” Ms Franks said. “That includes selling, gifting, swapping one crypto asset for another, converting to fiat currency, or using crypto to buy goods or services.”

When a disposal occurs, taxpayers must calculate the gain or loss in Australian dollars at the time of the transaction.

Tax treatment depends on how crypto is used

Crypto is not taxed the same way for everyone:

• Investors and SMSFs generally treat crypto as a CGT asset.
• Staking rewards are typically treated as ordinary income.
• Traders may treat crypto as trading stock or ordinary income.
• In limited cases, crypto may be exempt from CGT if it qualifies as a personal use asset.

"The treatment depends on the taxpayer's circumstances," Ms Franks said. "Crypto and NFTs may fall under CGT, revenue account, trading stock rules, or form part of a broader profit-making scheme."

Losses and record‑keeping matter

With market volatility producing both gains and losses, taxpayers need to understand how losses are treated.

"Some taxpayers will want to know whether their losses are deductible or are capital losses, which can only offset capital gains," Ms Franks said.

Accurate records are essential, including:

• Dates of transactions
• Value in Australian dollars at the time
• Purpose of the transaction
• Details of counterparties or platforms used

The ATO collects bulk data from Australian service providers as part of its data‑matching program, and uses that data to ensure taxpayers report crypto activity correctly.

Beware of unreliable online advice

As crypto investing grows, so does the rise of social‑media “finfluencers”.

“Unsolicited advice from online influencers can lead to serious financial losses and potential issues with the ATO,” Ms Franks said.

“Any advice about the tax treatment of crypto assets should come from a registered tax agent who is a Chartered Accountant, not social media.”

Major CGT changes are coming

Significant reforms announced in the 2026-27 Federal Budget will affect crypto investors, including:

• Replacing the 50 per cent CGT discount with an inflation‑indexed system from 1 July 2027
• Introducing a 30 per cent minimum tax rate for capital gains from 1 July 2027

“These changes will reshape how gains are taxed,” Ms Franks said. “Investors should start considering the long‑term implications for their crypto holdings now.”

“Those who have realised gains or attempted to limit losses may face significant tax consequences. Getting advice that reflects your individual circumstances is critical.”

ENDS

About Chartered Accountants Australia and New Zealand

Chartered Accountants Australia and New Zealand represents more than 140,000 financial professionals, supporting them to make a difference to the businesses, organisations and communities in which they work and live. Chartered Accountants are known as Difference Makers. The depth and breadth of their expertise helps them to see the big picture and chart the best course of action.

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