If you hold crypto alongside your shares and ETFs, it’s time to start paying more attention to your taxes. Crypto tax reporting has become a priority area for the ATO. So, how is crypto actually taxed? The ATO treats crypto as a capital gains tax (CGT) asset, much like shares. A CGT event happens when you:
- Sell crypto for AUD or another fiat currency
- Swap one crypto asset for another, including stablecoins and NFTs
- Use crypto to buy goods or services
- Gift crypto to someone else
Yes, you read that right – swapping crypto is a taxable event, even though no Australian dollars change hands. This is one transaction that often catches a lot of investors out, so keep that in mind before you go transferring one of your crypto assets for another.
Staking rewards and most DeFi income are generally taxed as ordinary income at their AUD value when you receive them, and may then trigger a separate CGT event when you later dispose of the tokens.
Crypto assets are highly volatile. You could lose all the money you invest. This is general information only. Consider your objectives and financial situation before investing.
Reaching an estimated 1.2 million Australian crypto investors every year, the ATO’s crypto data-matching program tracks data from the 2014–15 financial year through to 2025–26. It collects names, dates of birth, addresses, wallet addresses and linked bank accounts from Australian exchanges, and retains the data for years.
What this means for you: the ATO can see your crypto activity, so make sure you include all disposals, including swaps, in your tax return.
Crypto is only one slice of your eToro account
eToro is a multi-asset platform by design, where you can manage all your investments in one place. However, when it comes to tax, a separation takes place. Crypto is subject to its own rules, while other asset classes follow their own guidelines and wouldn’t belong in a crypto tax report. Make sure you separate your crypto activity cleanly so that nothing is counted twice or quietly left off.
Tax tips for investors
Start early. Reconciling a year of transactions across multiple exchanges, wallets, and brokers takes longer than people expect. Starting now gives you time to test different inventory methods and find the one that legally lowers your bill.
Keep clean records all year. The ATO expects you to keep records for five years. Logging the date, AUD value, and purpose of each transaction as you go beats scrambling to find all your data when July comes around.
Use reputable tax software. Tools that sync your exchanges and wallets automatically take the manual work out of reporting and handle complex on-chain activity that spreadsheets miss.
Get specialist advice for complex cases. If you have significant DeFi activity, an SMSF, or large gains, a crypto-native accountant is worth the fee.
Where Summ comes in
We have partnered with Summ so reporting doesn’t mean weeks of drowning in spreadsheets. Summ (formerly Crypto Tax Calculator) brings your eToro crypto activity into one place, values every transaction in AUD to ATO standards, and produces a report you can file through myTax or hand to your accountant. It’s built for the messy parts: crypto-to-crypto trades, airdrops, staking, DeFi, and the copy-trade disposals that pile up across a year.
Here’s how to get started with Summ:
- Connect your eToro account and import your crypto transaction history.
- Summ categorises each trade in AUD and applies the ATO’s rules, including copy-trade disposals.
- Review your ATO myTax report, then file it or forward it to your accountant.
If you are an eToro user, you can get 10% off any paid Summ plan. Sign up through the link below and the discount applies automatically.
NOTE: Club members unlock a higher discount depending on their tier – we’ll send the details by email at tax time.
Start your report
Crypto assets are highly volatile. Capital at risk. This is general information only. Consider your objectives and financial situation before investing.
FAQs
Do I pay tax on my investments in Australia?
Generally yes. Capital gains from selling shares, ETFs or crypto are included in your tax return, as is income such as dividends, distributions and staking rewards. The amount depends on your circumstances and how long you held the asset.
Is the 50% CGT discount going away?
As at (14/06/26): It’s set to change. In the 2026–27 federal budget the Government announced that the 50% CGT discount will be replaced by cost-base indexation and a 30% minimum tax on capital gains from 1 July 2027. Legislation has since been introduced to Parliament, but it has not yet become law. The 50% discount still applies for the 2025–26 year and to gains accruing before 1 July 2027. The transitional rules are detailed, so check with a tax professional about how they affect you.
Are crypto-to-crypto trades taxable?
Yes. Swapping one crypto for another is a CGT event in Australia, even though no fiat is involved. You calculate the gain or loss in AUD at the time of the swap.
Does the ATO know about my crypto?
Very likely. The ATO’s data-matching program collects information on an estimated 1.2 million crypto investors directly from Australian exchanges, including wallet addresses and linked bank accounts.
How do I work out my crypto taxes?
Software that connects to your exchanges and wallets can generate ATO-ready reports and handle complex activity like swaps, airdrops, staking and DeFi. Summ (formerly Crypto Tax Calculator) is built exactly for this. For complicated situations, speak to a tax professional as well.
Disclaimer
eToro does not provide tax, investment, or financial advice. The information provided is general in nature and does not take into account your individual circumstances. Consider whether it is appropriate for you. You should not rely on it as tax advice. We strongly recommend seeking independent advice from a qualified tax professional to understand your specific obligations and circumstances.
Crypto assets are highly volatile. Capital at risk.