Cryptocurrency and the ATO: Are You on Their Radar in 2025?
The ATO’s crypto-assets data-matching program runs through 2025–26, collecting details, wallets, transactions, identities, from Australian exchanges. Here’s a breakdown of what ATO is watching, and how you can comply.
1. Capital Gains Tax Applies Widely
Any crypto acquisition or disposal is a CGT event, including selling for fiat, swapping tokens, making a purchase, or gifting crypto.
Disposals trigger CGT; holding beyond 12 months may qualify for a 50% discount (if you're an investor, not a trader).
2. Staking & Airdrops Are Taxable Income
Staking rewards and airdrops (excl. initial allocation airdrops) are ordinary income at the time you receive them.
You must include the AUD value of tokens at receipt as assessable income.
3. Comprehensive Record-Keeping is Non-Negotiable
ATO requires records of:
Dates, token types, wallet addresses, AUD values, and transaction types for all events, even swaps and gifts.
All records must be kept for at least five years.
4. Why You Might Receive a Crypto‑Tax Letter
ATO has exchanged data with over 1 million accounts and is issuing mismatch letters to taxpayers who haven’t declared crypto activity.
Expect letters even if you didn’t sell, swaps, sending tokens as payment, or receipt of rewards can all trigger ATO attention.
5. What to Do If You're On the ATO’s Radar
Declare all crypto income and CGT events in your return, no matter how small.
Use reputable crypto‑tax software to track your activity and create summary reports
Consult a registered accountant experienced in crypto to accurately amend your return or lodge overdue years.
Stay Audit-Ready in 2025
Crypto is definitely taxable, even if it stays in a wallet.
All crypto activity is recorded and cross-checked by the ATO.
Records must be complete, accurate, and retained for years.
Prompt disclosure and professional advice minimise penalties.
Need Help With Crypto Tax?
At Dolman Bateman, we help crypto investors, traders, stakers, and NFT creators stay fully compliant and audit-proof. Avoid costs and stress,
.
Disclaimer: The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. All content relates to the current financial year only. Future changes to tax laws, thresholds or administrative requirements may affect the accuracy or relevance of this information, so you should always confirm that the guidance remains current. While every effort has been made to ensure accuracy at the time of publication, Dolman Bateman accepts no responsibility or liability for any loss or damage arising from reliance on this information. You should seek professional advice tailored to your circumstances before making any financial or tax decision.
