Cryptocurrency Tax in Australia (ATO Rules)
In Australia, cryptocurrency is treated as a Capital Gains Tax (CGT) asset, not as currency.
When is crypto taxable in Australia?
You must pay cryptocurrency tax in Australia when you:
- Sell crypto for AUD
- Trade one crypto for another
- Use crypto to buy goods or services
- Gift crypto to someone (excluding spouse in some cases)
Non-taxable events
- Buying crypto and holding it
- Transferring crypto between your own wallets
Cryptocurrency Tax in Other Countries (Global Overview)
🇺🇸 United States (IRS)
- Crypto taxed as property
- Capital gains tax applies
- Short-term vs long-term tax rules
- Reported using Form 8949
🇬🇧 United Kingdom (HMRC)
- Capital Gains Tax on disposal
- Income tax on mining & staking
- Annual CGT allowance applies
🇨🇦 Canada (CRA)
- 50% of capital gains are taxable
- Business income rules may apply
- Crypto treated as a commodity
🇮🇳 India
- Flat 30% tax on crypto gains
- 1% TDS on every transaction
- No loss set-off allowed