Cryptocurrency and Tax

How are people losing money to tax for their cryptocurrency? 

Despite the blockchain being decentralised and free from Government interference, cryptocurrency isn’t exempt from Australian taxes (be wary of anyone who tells you otherwise). The Australian Tax Office (ATO) will chase you up if a capital gain (income) has been produced from your crypto in any way.  

Aside from paying the correct amount of tax here, some crypto owners are paying more than they should, simply because their assets have not structured in the best way. This is actually pretty easy to prevent — if you work with an expert.

Why should I have a tax strategy?

To put it simply, so you don’t overpay tax through poor planning. No doubt, you’ve been extremely strategic with your crypto investments — that same planning and caution should go into the tax planning that could significantly affect it your investment.

Any tax strategy can be complicated, but adding cryptocurrency to the mix makes it almost impossible to manage and plan one yourself. A Crypto Tax Specialist Accountant (like us) that understands the ins-and-outs of cryptocurrency, as well as how crypto taxes work in Australia, is an absolute must.

How can Jahn Group support me?

Aside from a free virtual consult to discuss your situation, Jahn Group has three exclusive Cryptocurrency Tax packages designed to help you complete your tax returns and ensure your crypto is compliant with the ATO.

Each package includes information on how to stake your cryptocurrency, how to earn rewards, set up your wallet, as well as the strengths and weaknesses of leading exchanges. Our expert Accountants also provide up-to-date information on digital currencies that changes year-to-year.