Cryptocurrency Tax Accountants
Do you trade in cryptocurrency and need assistance with tax obligations? Tax Purpose is your local tax company in Melbourne assisting individuals, professionals, and active crypto investors in meeting their tax obligations accurately and on-time. We proudly assisted many local Australian ICOs with complex tax needs and financial reporting based on their crypto transactions.
With years of experience in the taxation industry and positive reputation we have earned over time, we are well versed in generating general purpose financial statements and calculate crypto gains for crypto investors.
The way Capital Gains Tax (CGT) is applied to cryptocurrency assets, including how it is bought, sold or used, how it is transferred from one currency to another depends on a number of factors that our registered tax consultants takes into accounting while preparing your financial reports.
Our Cryptocurrency Tax Consultants
Our Tax Purpose tax consultants have:
- Proudly assisted Australian investors and ICOs having million dollar investments.
- Prepared financial reports and offered genuine tax advice to cryptocurrency clients.
- Directly contacted ATO Officials to stay updated with the currentCryptocurrency policies.
- Helped hundreds of crypto clients in saving thousands of dollars in taxes.
Cryptocurrency Tax Laws in Australia
Right from the day cryptocurrencywas introduced in Australia, tax laws have rapidly evolved to regulate the way people are investing now in crypto. The way Capital Gains Tax (CGT) is applied to cryptocurrency assets, including how it is buy, sold or used, how it is transferred from one currency to another depends on a number of factors that our registered tax consultants takes into accounting while preparing your financial reports.
At Tax Purpose, our crypto tax accountants in Melbourneare committed to provide the right guidance you need to manage your tax strategy and obligations.
Crypto is on the ATO's Radar Again
The ATO has put crypto holders on notice, stating crypto, DeFi and NFT trading activities are in the ATO’s radar. If you’ve traded any crypto over the past financial year, it can be daunting trying to get all your transactions in one place. We use crypto accounting software for cryptocurrency investors to get their taxes in order quickly and easily.
Crypto Tax Planning
We assist you with efficient tax planning after assessing your gains and losses at the end of the financial year so you can save the most on tax returns.
Crypto Tax Structuring
Our team manages your GST obligations and provide complete crypto tax structuring to maximise your tax returns with an effective tax structure.
Crypto Business Advisory
If you accept cryptocurrency as payment for your business or services, we have got you covered with the right tailored crypto business advice.
We offer general bookkeeping services to make sure your crypto books, records, and transactions are up to date to ensure hassle-free tax reporting and meeting obligations.
Capital Gains Tax
Our crypto tax consultants in Melbourne specialise in calculating your Capital Gains Tax or Losses to ensure error-free reporting while minimising your taxation liability.
Cryptocurrency Related Investing and Trading Outcomes
At Tax Purpose, our experienced tax consultants assist our crypto clients with a wide range of investment and trading outcome for:
- Capital Gains Tax
- Crypto to Crypto Tax
- Reconciliation Of Tax Records
- Reconstruction Of Records
- Margin Trading & CFD Trading
- Wages Received in Crypto
- ICO Investments& Lending
FAQs on Cryptocurrency Tax
Yes, almost all cryptocurrency losses are tax-deductible under the ATO.A qualified cryptocurrency tax consultant can assist with calculating how CGT and tax deduction laws apply on crypto.
A cryptocurrency is considered an asset for tax purposes and its tax obligations are similar to other assets, such as shares.
Cryptocurrency transactions are subject to taxation in Australia and it’s important to stay compliant while declaring any crypto profits or losses on your tax return. To remain compliant:
- Keep records of all your crypto transactions.
- Report any crypto-related taxable income on your tax return.
- Don’t forget to include crypto in your asset declaration.
Tax Purpose has a team of qualified and registered accountants who specialise in cryptocurrency tax in Australia.