Crypto tax software programs make it easier to record your cryptocurrency transactions, track any capital gains or losses and report them to the ATO. To help you manage your tax obligations, we've compared a range of leading options to find the best crypto tax software programs in Australia.
Our selection of the best tax crypto software is based on an extensive methodology that compares features like price, number of integrations, usability and ATO compatibility. Our best picks are updated by our editorial team throughout the year in line with changes in the market.
"Top picks" are those we've evaluated to be best for certain product features or categories. If we show a "Promoted" pick, it has been chosen from among our commercial partners and is based on factors that include special features or offers and the commission we receive.
Keep in mind that these picks are suggestions and that the crypto tax software that is best for you will depend on your individual needs. There may be other products on the market not included in our picks.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Koinly is an Australian service that integrates seamlessly with over 400 exchanges, 100+ wallets and more than 170 different blockchains.
You can generate a tax report in as little as 20 minutes which is made for the ATO (MyTax) or your local tax agent.
The platform is very easy to use and the automated software can connect to your exchange accounts and handles most of the hard work for you.
It supports advanced transaction types including margin and futures trading, staking, lending and DeFi.
Pros
Specialised tax reports. Koinly offers specialised tax reports for Australia and several other countries around the world.
Supports over 500 exchanges and wallets. Koinly offers integrations with over 400 exchanges and more than 100 cryptocurrency wallets, ensuring easy auto-syncing of your transaction data.
Advanced features. Koinly also tracks DeFi transactions as well as margin trades and futures, plus it includes multiple tools designed to detect and fix any issues with your transactions.
Cons
No free option. While Koinly offers a free plan you can use to track up to 10,000 transactions, you'll need a paid plan if you want to generate any tax reports.
Crypto Tax Calculator offers Australian-made crypto tax software designed to meet ATO guidelines. The software calculates your profit and loss and produces an ATO-compliant report, ready for your tax agent or MyGov.
It supports thousands of integrations, including 150+ leading exchanges, 250+ wallets and an incredible 2,300+ DeFi protocols. It includes support for NFTs and marketplaces like OpenSea and LooksRare.
Crypto Tax Calculator also offers a professional software suite for accountants and bookkeepers.
Pros
Up to 100,000 transactions. Crypto Tax Calculator's Trader plan allows you to track and report up to 100,000 transactions.
Wallet support. Supports 250+ wallets across a diverse number of blockchains including Ethereum, Binance Chain, Solana, Polygon and many more.
DeFi integrations. Crypto Tax Calculator supports just under 3,000 DeFi protocols and services which is sure to satisfy even the biggest degen traders.
Cons
No free plan. You can try the platform for free and import data, but you will need to pay to receive a calculated report.
Tiered system. Crypto Tax Calculator locks you out of certain features, such as DeFi trades unless you pay for the highest plans.
CoinTracking offers advanced cryptocurrency portfolio tracking and tax reporting services for customers in Australia and over 100 countries.
You can get a tax report with up to 200 transactions using the free plan. The catch is you will need to manually import your transactions using CSV files, but if you're willing to invest the time that's a saving of around $50 compared to similar services.
The full-featured Unlimited plan is also excellent value, at only US$70 it gives you an unlimited number of transactions and all the additional features of the service. Features include advanced analysis tools, priority customer support and faster calculations.
Pros
Up to 200 transactions free. You can generate tax and capital gains reports on up to 200 transactions when you sign up for a free plan.
Wide range of reports. You can use CoinTracking to generate 25 customisable reports including profit/loss and realised and unrealised gains.
Support. CoinTracking offers a huge online database of frequently asked questions to help new users understand how to use the platform. How-to videos are also available, or you can create a support ticket to get the assistance you need.
Cons
No automatic imports on free plan. If you want to automatically import transactions, you'll need to upgrade to a paid plan.
A little complicated. If you're new to the world of crypto tax tracking and reporting, you may find the CoinTracking interface a little confusing at first, especially when compared to platforms like Koinly and Crypto Tax Calculator.
CoinLedger, formerly CryptoTraderTax, has been helping cryptocurrency traders with their transaction reporting since 2018.
It offers specialised software for NFTs, which can often require a lot of manual work with other software. On CoinLedger you simply import your Ethereum address and it does the rest, summarising your profit and loss in a neat report.
There is native support for OpenSea, Blur, Magic Eden, Rarible, ENS and a large number of DeFi apps.
Pros
Native support for NFTs. CoinLedger boasts native support for Ethereum NFTs and all leading marketplaces like Blur, Magic Eden and OpenSea.
Unlimited plan available. If you're a frequent trader, CoinLedger's top plan supports an unlimited number of transactions.
Free tax preview. You can generate and view a free preview tax report and then pay when you need to download your tax forms.
Multiple reports. CoinLedger allows you to generate a short- and long-term gains report, a cryptocurrency income report and a tax loss harvesting report to help you minimise your tax obligations.
Cons
US pricing. CoinLedger subscriptions are priced in US dollars, so consider the currency conversion rate when deciding whether it's right for you.
Ethereum NFTs only. The software only offers native support for Ethereum NFTs. You can manually import transactions via CSV for other chains.
No free plan. The free plan lets you import unlimited transactions and test the software but it will not export a tax report for you.
Syla is designed by Australian tax professionals and distinguishes itself on tax minimisation and great value.
The Budget plan is only $59 but includes up to 10,000 transactions. Many other platforms charge between $250 and $350 for that many transactions. Better yet it covers all financial years, so if you're behind on your tax you can catch up with a single subscription. Again, many other platforms will charge you a subscription for each tax year you want to cover.
Syla attempts to minimise your tax bill by using a proprietary Lowest Tax First Out (LTFO) method to select the parcel that will create the lowest tax obligation.
The team boasts a strong line-up of tax professionals, including a chartered accountant (CA), tax adviser (CTA), tax lawyer (LLB) and a SMSF specialist adviser (SSA).
Pros
Great value. The Budget plan is only $59 but includes 10,000 transactions. Most other platforms charge hundreds of dollars for that many transactions.
High transaction limit. The 10,000-transaction limit with every account is especially useful for anyone who uses staking or earn services which often pay out daily.
Tax minimsation. Syla attempts to minimise your tax bill by using a Lowest Tax First Out (LTFO) method.
Australian customer support. Syla's customer service team is based in Australia. When we tested it, response times took about an hour, but we were connected with a qualified tax specialist which was a pleasant surprise.
Cons
Limited exchanges. The software only has native support for a small number of exchanges, but these include many major Australian exchanges. You can also import a CSV file from any exchange and it will work with the software, but the process is a bit more manual.
Tiered system. Syla supports up to 10,000 transactions on all plans including the budget plan, though advanced features like tax minimisation are reserved for higher-cost plans.
Limited blockchain support. So far there is only native support for Ethereum, but other chains can be imported via CSV which can be done easily if you have a Ledger hardware wallet. Ethereum support is advanced and includes support for NFTs, DeFi, liquidity pools etc.
Coinpanda lets you generate crypto tax reports in less than 20 minutes.
It has deep integrations with over 800 exchanges, wallets and blockchains. There is support for ATO (myTax) reports as well as 65 other countries.
This includes transaction types like earning rewards from staking and yield farming and support for DeFi protocols on Ethereum, Solana and Cardano. NFTs are supported and there is integration with OpenSea.
Prices are in US dollars, which makes its lower tiers more expensive than some local options like CryptoTaxCalcualtor or Koinly.
Pros
Supports 500+ exchanges. Coinpanda has direct integrations with over 500 exchanges and 75 wallets, making it easy to import your transaction data.
Quick and easy to use. Many customers praise Coinpanda for how easy it is to use. The platform's user-friendly interface is intuitive and simple to navigate.
All your tax needs. Coinpanda not only lets you generate capital gains and cryptocurrency income reports, it also lets you calculate profits and losses on futures and margin trades as well as DeFi transactions.
Professional suite. Coinpanda also offers a software suite so that CPAs and tax professionals can generate tax reports for their clients.
Cons
US pricing. Remember to consider the exchange rate when deciding whether a Coinpanda plan is right for you.
There are more affordable options for high-volume traders. If you've placed more than 20,000 transactions in the past year, you may find that other crypto tax software providers offer more affordable plans for you.
Accointing is made by Glass Node, which is an industry leader in tracking on-chain transactions and blockchain data. You can produce ATO-compliant tax reports with ease, from the comfort of your smartphone or computer.
All of its plans come with valuable features that include a tax-loss harvesting tool. Your account also comes with access to portfolio tracking software which you can use year-round to monitor your investments.
It has native support for a good range of popular Australian exchanges including CoinSpot, Binance and Kraken. Overall though, its list of exchanges is much smaller than many competitors like Koinly or Crypto Tax Calculator.
Pros
30-day money-back guarantee. Get a full refund within 30 days if you meet certain conditions, including results that don't comply with your country's tax authorities.
Personalised tax report. Accointing provides ATO-compliant tax reports for you to file with MyTax or your tax agent.
Multiple import and export options. Add your data by API keys, CSV files or manual import. Or download your tax information as PDF, CSV and XLSX files so you can file your taxes yourself, through other tax software or with an accountant or CPA.
Tax optimisation tool. The free Trading Tax Optimizer tells you how to execute your trades to help you meet your tax goals, including harvesting your losses.
Cons
Ethereum NFTs only. The software only offers native support for Ethereum NFTs. You can manually import transactions via CSV for other chains.
Email support only. While Accointing says it's adding additional help through live chat, support is available through email only, which customers complain online is slow for a response.
Doesn't offer many API integrations. Many exchange and wallet integrations must be done with a history file or with manual support, not via API.
Binance Tax is a free service for Binance users that analyses your Binance account and provides you with a free tax report.
It's very simple and easy to use, with only a few buttons to press.
It's particularly useful if you have been using Binance to earn yield on crypto, as yield is usually paid out daily which is considered a taxable event. So if you used a paid service, you could quickly reach the transaction limit due to yield payouts.
Pros
Free. Binance Tax is free for Binance users and only works with your Binance account.
Simple. There are only 4 possible cost basis methods. You can consult the How It Works menu to understand which you should use.
Cons
Binance only. Does not work with any other exchange.
Simple. Anyone with more complex needs may want to use a more general software with a wider range of features.
Pricing by tier (per year)
Free for Binance users.
Supported exchanges
Binance only
Supported exchanges: Binance only
Free plan: Full account
Starting price: Free
How we chose the best crypto tax software
We considered a wide range of factors before choosing the best crypto tax software for Australian investors. We took into account the following:
Price. We compared crypto tax software plan prices and what you get for the money you pay. Not only did we search for the most affordable plans for different types of cryptocurrency investors and traders, we also searched for those plans that offer the best value for money.
Integrations. We considered the number of exchange, wallet, blockchain and coin-tracking service integrations each provider offers. This allows for easy importing of all your cryptocurrency transaction data using API keys or CSV files.
Ease of use. Next, we compared crypto tax software to find out how easy it is to use. From signing up to importing transaction data and generating tax reports, we looked for programs that simplify the process from start to finish.
Included tax forms and reports. The best crypto tax software is optimised for use with Australian tax rules. This not only means it has the ability to calculate capital gains and losses, but it can also do things like take into account the 50% CGT discount on assets held for more than a year, plus calculate income from staking, lending and more.
Accountant access. Once you’ve generated your tax report, we inspected how easy it is to give your accountant access to your tax report and export your data to popular tax-filing software.
Customer service. Finally, we also considered how you can get in touch with a software provider’s customer support team, what previous users have to say about the level of customer support and whether they also offer online help resources.
How crypto tax software works
Crypto tax software is designed to make it easy to report your crypto capital gains, losses and income to the ATO. It does this by automatically calculating your tax obligations.
Here’s how it works. The software allows you to import all your transaction data from cryptocurrency exchanges and wallets. It then compiles all that data to generate a report of your capital gains and losses for the financial year, plus can also create tax reports detailing your cryptocurrency income earned from activities such as staking and mining.
You can use those reports to input the relevant figures on your tax return, or share the reports with your accountant so that they can file your return.
Koinly explains Aussie crypto tax and how its software works
Is crypto tax software worth it?
Crypto tax software can save you a whole lot of stress and time when filing your tax return. This is particularly true if you’re a frequent trader, as trying to reconcile your transactions manually would involve a whole lot of work.
Remember that disposing of cryptocurrency triggers a CGT event, even if you’re only exchanging one crypto for another, so even casual traders may well have a large number of transactions they need to report to the ATO. Using reputable crypto tax software is a simple way to make sure you stay in the ATO’s good books while also saving yourself time and hassle.
That said, it’s important to shop around to find the right software provider and plan for your needs. Pricing varies based on the number of transactions you need to track and the type of transactions. For example, you may need to pay more if you’ve dabbled in DeFi rather than just trading on centralised exchanges, so compare a range of plans before choosing the best one for you.
What happens if I don’t report cryptocurrency to the ATO?
Tax evasion is a crime and failing to disclose cryptocurrency capital gains to the ATO could result in harsh penalties.
And don’t fall into the trap of thinking that cryptocurrency transactions are invisible. The ATO has been operating a data-matching program since April 2019 that can track data as far back as 2014. This program matches cryptocurrency transaction data from exchanges with data from the ATO to catch out anyone who has failed to meet their Australian crypto tax obligations.
December 2023 ATO update
As of December 2023, the ATO is very clear that all crypto transactions, including buying, selling, or trading, are subject to Capital Gains Tax or Income Tax in Australia. If you're found to be evading tax on your crypto gains, the penalties can range from fines to imprisonment, depending on the severity and intent of your offense.
The ATO can impose two types of penalties for tax-related offenses: administrative penalties and criminal penalties for more severe cases. Administrative penalties involve a fine calculated using a statutory formula, which as of July 2020, involves penalty units worth $222 each.
The number of penalty units imposed depends on the behaviour of the taxpayer and the amount of tax avoided. The more intentional the tax evasion and the larger the amount evaded, the higher the penalty, with a maximum penalty of 200 units and two years in prison.
For cases where the ATO determines that a taxpayer intentionally disregards the law, a penalty of 75% of the outstanding tax liability can be imposed, in addition to the tax itself and interest on the shortfall.
With this in mind, using crypto tax software to track and report your transactions can help ease stress come tax time.
Compare crypto tax software
Use the table below to explore crypto tax software for tracking, calculating and reporting your crypto taxes. Compare prices and features to find the right platform for your needs.
This is a complex and novel tax area. The crypto tax calculator is provided as general information only and we recommend that you seek independent tax advice. The crypto tax calculator does not purport to be a complete statement of all Australian income tax implications that may be relevant to crypto transactions. The Australian income taxation implications may vary depending on the individual circumstances. We recommend obtaining personal and specific tax advice prior to the lodgement of your income tax return.
The capital gains tax (CGT) is calculated by first determining if there is a capital gain, which is calculated by subtracting the purchase price of the asset, the purchase costs and the sale costs from the sale price of the asset. If there is a capital gain, the individual's total tax payable is then calculated by applying their marginal tax rate for the current financial year to their total taxable income including the capital gain (which may include a discount if held for over 12 months). The figure provided by the calculator relates to the portion of tax payable as a result of the capital gain.
Assumptions and limitations
The calculator assumes the following:
The individual is a permanent resident of Australia for the entire current financial year
The asset:
Was purchased after 21 September 1991
Is owned by the individual and not a business entity
Is not an owner-occupied home
Is not part of a super fund
Is not otherwise exempt from the CGT rules
The Medicare levy surcharge rate is not payable.
This calculator provides an estimate only and is not a replacement for professional financial advice.
Our cryptocurrency tax calculator is designed for a simple estimation of your capital gains tax (CGT).
It works by calculating the profit or loss from a trade and estimating the CGT tax owed.
You can add multiple trades and toggle whether or not you've held an asset for 12 months or more, which will apply the 50% CGT discount.
You may be eligible for the 50% CGT discount if you have held on to an asset for more than 12 months without disposing of it – which means you have not sold it or swapped it for another cryptocurrency.
To use the calculator, follow these steps:
Add each trade to a new row. A trade is when you have bought then sold an asset once.
Add your purchase price for the asset in the Purchase value (AUD) column and then the price you sold it for in the Sold value (AUD). If you held the asset for more than 12 months without disposing of it (e.g. selling it, trading it or swapping it for another asset) then you can toggle the switch which will apply the CGT discount for that trade.
Add as many trades as you need.
Once you have added all your trades, add your taxable income to the bottom left field. This should include your salary plus any other income, including capital gains from any other assets that were not added to the calculator.
Press the green Calculate button. You will be shown an estimate of your capital gains and taxable capital gains.
Bottom line
There are a host of reputable options to choose from if you’re comparing crypto tax software. All of them can make tax time easier and less stressful.
But what is the best crypto tax program? It really depends on how many transactions you’ve made, the type of transactions and how much you’re willing to pay. Compare a range of crypto tax software programs to find the right provider and plan for your needs.
Frequently asked questions
There are some free plans available that support limited transactions, but most software providers offer tiered pricing structures based on the number of cryptocurrency transactions you've made in a financial year. You'll need to compare plan prices and features across a range of providers to find the best value for money.
However, remember that some providers charge fees annually while others charge monthly and some quote prices in US dollars rather than Australian dollars.
For investors, the ATO treats cryptocurrency as a capital gains tax (CGT) asset. This means that when you dispose of any cryptocurrency, for example by selling it for Australian dollars or exchanging it for another cryptocurrency, you’ll need to pay tax on your capital gain.
As an individual or sole trader, you can request an amendment to your tax return if you realise you’ve made a mistake or forgotten to include any information. You can lodge an amendment online, on paper, by letter or through your registered tax agent. You have 2 years after receiving your notice of assessment to do so.
In rare cases, cryptocurrency may be classified as a personal use asset and will not be subject to capital gains. However, for the majority of cryptocurrency investors, selling cryptocurrency, exchanging it for another cryptocurrency or gifting it to someone else will trigger a CGT event. A 50% CGT discount applies if you hold the cryptocurrency for more than 12 months before disposing of it, but it’s worth contacting a crypto tax expert for advice tailored to your situation.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
James Edwards was the cryptocurrency editor at Finder. He led the editorial strategy and reported on the latest industry news to further Finder's mission of helping people make better financial decisions.
A relatively early adopter, James has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in his ability to boil down complex topics into language his parents can understand.
His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think, and he has coordinated a vast number of high-profile interviews with the industry's brightest minds.
He is a regular contributor to Nasdaq and is frequently called upon for market commentary in Australia and abroad.
A comprehensive review of CoinTracking, the portfolio manager that aims to make it easy to track all your digital currency trades and simplify tax time for crypto buyers.
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