Australian Crypto Tax Explained: Record Keeping, SMSF & Common Mistakes (Full Webinar)

What is the taxable event? So we have two forms of taxable events in crypto.

One is capital gains where you sell, swap, gift, bridge, or you even lose, or perhaps unfortunately you get scammed.

But all of those things are called a capital gain slash loss.

If you've held an asset for more than 12 months, as the rules stand right now, they are eligible for a 50% discount.

But I'm sure probably most of you are aware that as of the 1st of July, 2027, that 50% discount will not continue going beyond the 1st of July.

So there will be slightly different rules.

Now, unfortunately, those rules have not been fully fully legislated um they are still trying to decide on exactly what that looks like so right now it is a little bit of a wait and see but we do know there will be a minimum 30 tax on capital gains from the 1st of july 2027 the other taxable event in crypto is what is classed as ordinary income so it is not subject to any sort of and it's very similar to bank interest.

So that is staking.

I have airdrops there and any other activity where you receive rewards.

Now, the ATO probably around two or so weeks ago just released a draft ruling on airdrops.

Now, as you can see in my slide here, Airdrops have always been considered to be ordinary income, but it looks as though the ATO is about to change their position and airdrops will no longer be classed as income.

They will just be an asset that you have received on the given date and the value of that asset on that given date is what the market value will be going forward for when you ever sell it, swap it in the future.

So as I said, at this point in time, there's only a draft ruling, but that is quite positive that it means that it will no longer be deemed as income.

So that's a nice change.

What is the taxable event? So we have two forms of taxable events in crypto.

One is capital gains where you sell, swap, gift, bridge, or you even lose, or perhaps unfortunately you get scammed.

But all of those things are called a capital gain slash loss.

If you've held an asset for more than 12 months, as the rules stand right now, they are eligible for a 50% discount.

But I'm sure probably most of you are aware that as of the 1st of July, 2027, that 50% discount will not continue going beyond the 1st of July.

So there will be slightly different rules.

Now, unfortunately, those rules have not been fully fully legislated um they are still trying to decide on exactly what that looks like so right now it is a little bit of a wait and see but we do know there will be a minimum 30 tax on capital gains from the 1st of july 2027 the other taxable event in crypto is what is classed as ordinary income so it is not subject to any sort of and it's very similar to bank interest.

So that is staking.

I have airdrops there and any other activity where you receive rewards.

Now, the ATO probably around two or so weeks ago just released a draft ruling on airdrops.

Now, as you can see in my slide here, Airdrops have always been considered to be ordinary income, but it looks as though the ATO is about to change their position and airdrops will no longer be classed as income.

They will just be an asset that you have received on the given date and the value of that asset on that given date is what the market value will be going forward for when you ever sell it, swap it in the future.

So as I said, at this point in time, there's only a draft ruling, but that is quite positive that it means that it will no longer be deemed as income.

So that's a nice change.