It’s a new financial year and so we each have a tax return to do. Traded crypto? Here is what you need to do now in four easy steps:
Step 1
Keep a record of each crypto you owned at 30 June 2019 and how many.
For example,
|
Bitcoin |
BTC |
0.45642 |
|
Ether |
ETH |
2.351 |
|
Ripple |
XRP |
6,458.452 |
|
Litecoin |
LTC |
20.5434 |
It’s also a great idea to take screenshots of balances held at exchanges and wallets as proof.
Step 2
Download your transaction history for the period 1 July 2018 to 30 June 2019 from your exchanges and wallets.
These are usually available to download as CSV/Spreadsheet files using an export history feature.
If you traded crypto before 1 July 2018 and haven’t previously kept a copy of those transactions, then you also need to download prior year data too.
Step 3
Download your deposit and withdrawal history from exchanges and wallets.
Again, these are usually CSV files and should include crypto and fiat (AUD, USD, EURO) amounts.
Step 4
Send this information to us, together with your other tax information such as tax deductible expenses.
Your tax return will then be prepared by Australia’s leading cryptocurrency specialists – Munro’s Cryptocurrency Accountants.
You can send the info by email or request a secure client portal account to upload via our website.
Click here to read about how we saved $9,246 in tax for a client…. in fact, we have saved our clients a combined total of more than $1million in tax due to our industry leading crypto expertise.
Smart crypto investors, traders and miners can contact us on 08 94275200 or submit an enquiry here.
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