{"id":8777,"date":"2026-05-01T05:15:48","date_gmt":"2026-05-01T05:15:48","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=8777"},"modified":"2026-05-01T05:15:48","modified_gmt":"2026-05-01T05:15:48","slug":"what-every-crypto-trader-needs-to-think-about-before-eofy","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=8777","title":{"rendered":"What every crypto trader needs to think about before EOFY"},"content":{"rendered":"<p><\/p>\n<div>\n<p>June 30 comes around fast. If you\u2019ve been trading crypto this financial year and haven\u2019t thought about tax yet, now might be the time.<\/p>\n<p>Here\u2019s what actually matters heading into EOFY.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-the-ato-already-knows-about-your-trades\">The ATO already knows about your trades<\/h2>\n<p>Before diving into anything else: the ATO runs data-matching programs with Australian and international exchanges. If you traded on Coinbase, Swyftx, Binance, CoinSpot, or any major platform, that data has likely already been shared.<\/p>\n<p>Assuming crypto is invisible to the tax office is one of the most expensive mistakes an Australian trader can make. Declare everything.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-are-you-an-investor-or-a-trader-it-changes-what-you-owe\">Are you an investor or a trader? It changes what you owe<\/h2>\n<p>This is the question many don\u2019t consider.<\/p>\n<p>Investors are classified as those who hold crypto primarily for long-term growth. Gains are taxed under Capital Gains Tax (CGT) rules, and if you\u2019ve held an asset for over 12 months before selling, you\u2019re potentially eligible for a 50% CGT discount.<\/p>\n<p>Traders are considered to operate more like a business \u2013 adopting a frequent buying and selling, systematic approach. The ATO typically taxes trader profits as ordinary business income. This means those classified as traders aren\u2019t usually eligible for a CGT discount \u2013 but they can often claim business-related deductions.<\/p>\n<p>Most Australians fall into the investor category. But if you\u2019ve been actively trading all year, it\u2019s worth getting clarity on where you land before you lodge.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-every-disposal-is-a-taxable-event\">Every disposal is a taxable event<\/h2>\n<p>This is where people may get caught out. A disposal doesn\u2019t just occur when you sell crypto for AUD. Under ATO rules, you can trigger a CGT event when you:<\/p>\n<ul class=\"wp-block-list\">\n<li>Sell crypto for Australian dollars<\/li>\n<li>Swap one crypto for another (BTC to ETH counts)<\/li>\n<li>Spend crypto on goods or services<\/li>\n<li>Gift crypto to someone else<\/li>\n<\/ul>\n<p>What\u2019s typically <em>not<\/em> taxable: transferring crypto between wallets you own, and holding without selling. However, even these actions in certain circumstances can incur taxable events, such as an on-chain wallet that automatically stakes.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-consider-waiting-before-disposal\">Consider waiting before disposal<\/h2>\n<p>If you\u2019re sitting on a position that\u2019s in profit and you\u2019ve held it for just under 12 months, selling before EOFY means paying tax on the full gain. Waiting until you cross that mark can cut the tax bill in half.<\/p>\n<p>Many people don\u2019t check their purchase dates before selling.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-losses-reduce-what-you-owe\">Losses reduce what you owe<\/h2>\n<p>Losses offset your capital gains and can reduce what you owe. If they exceed your gains, you can carry the excess capital losses forward to future years with no expiry. But, like everything, you have to actually record and report them.<\/p>\n<p>If you\u2019re holding positions that are underwater, selling before June 30 locks in those losses for that financial year\u2019s return.\u00a0<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-staking-defi-and-airdrops-taxable-as-income\">Staking, DeFi, and airdrops: taxable as income<\/h2>\n<p>Rewards from staking, DeFi yield, and most airdrops are treated as ordinary income, not capital gains. You report the AUD value of those rewards at the time you received them, regardless of whether you\u2019ve sold the tokens since.<\/p>\n<p>The common mistake: people assume they only owe tax when they eventually sell. The income event happens at receipt.<\/p>\n<p>Gains made between the time of acquisition and sale are typically considered capital gains.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-get-your-records-sorted-now-not-in-october\">Get your records sorted now, not in October<\/h2>\n<p>You need to account for:<\/p>\n<ul class=\"wp-block-list\">\n<li>The date of every transaction<\/li>\n<li>The AUD value at the time of each transaction<\/li>\n<li>The cost basis for every asset you\u2019ve disposed of<\/li>\n<\/ul>\n<p>If you\u2019ve traded across multiple exchanges and wallets, this can get messy fast. A crypto tax tool could save you hours and lessen the possibility of errors. The October 31 lodgement deadline feels far away\u2026until it isn\u2019t.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-cost-basis-method-the-choice-affects-your-tax-bill\">Cost basis method: the choice affects your tax bill<\/h2>\n<p>Australian investors can generally choose between FIFO (first in, first out), HIFO (highest in, first out), or LIFO (last in, first out), provided they have the records to support it. Aussies classified as traders are required to use FIFO.<\/p>\n<p>In a bull market, HIFO typically produces smaller taxable gains by disposing of your highest-cost units first. It\u2019s worth running the numbers for each cost basis method before you decide.<\/p>\n<p>The bottom line<\/p>\n<p>EOFY is a decision point. Which positions do you sell before June 30? Which do you hold past the 12-month mark? Which losses do you crystallise? These decisions have real dollar implications.<\/p>\n<p>It\u2019s almost always a good idea to discuss your personal situation with a financial professional \u2013 especially one with expertise in digital assets. Good advice almost always costs less than getting it wrong.\u00a0<\/p>\n<p>Summ takes the headache out of crypto taxes<\/p>\n<p>Navigating crypto taxes in Australia can be a daunting task, especially when dealing with on-chain transactions involving staking, airdrops, DeFi and NFTs. Summ (formerly Crypto Tax Calculator) can help handle the complicated process of declaring your crypto asset activities with tax regulators. Summ is designed to negotiate complex on-chain transactions, ensuring you stay compliant with ATO regulations while potentially minimising your tax bill.\u00a0<\/p>\n<p>If you\u2019re not already taking advantage of crypto tax software, you can make tax time easier this year with Summ. CNA readers get <strong>30% off<\/strong> all paid plans by using code <strong>CNASUMM30<\/strong> at checkout or by signing up here.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p><em>This article is general in nature and does not constitute financial or tax advice. For advice<\/em><strong><em> specific to your situation, consult a registered tax professional. Summ is a partner of Crypto News Australia.<\/em><\/strong><\/p>\n<\/p><\/div>\n<p>Sponsored Article#crypto #trader #EOFY1777612548<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 30 comes around fast. If you\u2019ve been trading crypto this financial year and haven\u2019t thought about tax yet, now might be the time. Here\u2019s what actually matters heading into EOFY. The ATO already knows about your trades Before diving into anything else: the ATO runs data-matching programs with Australian and international exchanges. If you<\/p>\n","protected":false},"author":1,"featured_media":8778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[62,4298,667],"class_list":{"0":"post-8777","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-crypto","9":"tag-eofy","10":"tag-trader"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What every crypto trader needs to think about before EOFY - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=8777\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What every crypto trader needs to think about before EOFY\" \/>\n<meta property=\"og:description\" content=\"June 30 comes around fast. 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