Crypto Tax in Australia: CGT, Records and Common Traps (2025–26)

Updated for the 2025–26 income year, with 2026–27 changes noted. Reviewed 19 October 2026.

If you hold crypto as an investment, the ATO treats each token as a separate CGT asset. Selling, swapping, gifting or spending it is usually a CGT event. The ATO also receives data from Australian exchanges, so it's important to report correctly.

When CGT applies

• Selling crypto for Australian or foreign currency.
• Swapping one crypto asset for another, including stablecoins.
• Using crypto to buy goods or services.
• Gifting crypto.
• Simply buying and holding, or moving crypto between your own wallets, isn't a disposal.

Working out the gain

Convert every transaction to Australian dollars at the time it happens. Your gain is the AUD value received less the cost base of the tokens disposed of. Hold at least 12 months and the 50% CGT discount may apply. Capital losses on crypto can reduce other capital gains, but a net capital loss can't reduce your other income.

Staking, airdrops and other income

Staking rewards are generally ordinary income when you receive them, valued in AUD at that time. That value becomes their cost base for a later sale. Airdrops and crypto received as payment for work or services may also be income. If you're carrying on a crypto trading business, different rules apply.

The personal use asset exemption is narrow

Crypto held as an investment is not a personal use asset. The exemption is mainly for crypto acquired and used within a short period to buy items for personal use or consumption. The longer you hold it, the less likely it is to qualify.

Lost or stolen crypto

You may be able to claim a capital loss if you can show you owned the crypto and that it has been lost or stolen (for example, wallet addresses and transaction records). Losing access through a forgotten password needs strong evidence.

Worked example

Example (illustrative figures only – not real client data): Raj bought 1 ETH for A$2,500 in 2023, then in 2025–26 swapped it for another token worth A$5,700 at the time of the swap.

His net capital gain of $1,600 is included in his 2025–26 return, even though he never cashed out to dollars. The new token's cost base is $5,700.

Checklist

• Export full transaction histories from every exchange and wallet.
• Convert each transaction to AUD at the time.
• Record staking rewards as income.
• Identify any swaps between tokens.

Common mistakes to avoid

• Thinking crypto-to-crypto swaps aren't taxable.
• Not reporting because you didn't cash out to dollars.
• Claiming the personal use asset exemption for investments.
• Losing records when an exchange closes.

Record-keeping tips

• Keep: date of each transaction, AUD value, purpose, counterparty or wallet address, exchange records, and software reports.
• Download records regularly; exchanges can close.
• Keep records for 5 years after each disposal.

When to see an accountant

Get personal advice from a registered tax agent if:

• you trade frequently and may be carrying on a business;
• you have DeFi, lending or NFT transactions;
• you need to amend earlier years;
• you have an ABN, side business or rental property as well as your job;
• you have received an ATO letter, review or amended assessment.

Related guides

• Capital gains tax
• Investment deductions
• all deduction guides

ATO sources for this guide

• ATO: How to work out and report CGT on crypto
• ATO: Crypto transactions
• ATO: Crypto asset as a personal use asset
• ATO: Keeping crypto records
• ATO: Copyright notice

This guide is written in our own words. It draws on information published by the Australian Taxation Office, and some short phrases are quoted with attribution. Source material: © Australian Taxation Office for the Commonwealth of Australia. Top Accountants is not endorsed by, or affiliated with, the ATO.