Crypto tax, calculated properly.

Yes. Crypto-to-crypto swaps are disposals for CGT purposes — you're disposing of one asset and acquiring another, with the gain measured in AUD at the time of the swap. This is the single most common misunderstanding we correct, and it's why people with no AUD withdrawals still have substantial CGT positions.

Assume yes. Australian exchanges provide account and transaction data to the ATO under its data-matching program, covering millions of accounts. Prefill in myTax now shows crypto disposal data for many taxpayers. Non-disclosure isn't a gamble worth taking when voluntary disclosure carries much lower penalties.

It depends on the scale, repetition, business-like organisation, intention and capital involved — not on how often you use the word "trading". Investors use CGT and can access the twelve-month discount; traders treat gains as ordinary income with no discount, but can deduct losses against other income and hold crypto as trading stock. We form a position on the evidence and document it, because the ATO can and does challenge it either way.

Sometimes, and timing matters. A capital loss generally requires a CGT event — disposal, or the asset being demonstrably worthless. Administration or bankruptcy of an exchange doesn't automatically crystallise a loss; the treatment depends on the facts and the year in which the loss becomes final. Bring us the documentation and we'll take a defensible position.

Individuals can generally amend two years back on their own initiative, and the ATO can go further where there's been a failure to disclose. Voluntary disclosure of earlier years is normally accepted and significantly reduces penalties compared with being found through data-matching.