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Block Climbing Podcast: Australian crypto taxes explained

Posted: 21 September 2022 3:30 pm

News

This week we take a closer look at Australian crypto tax with expert Danny Talwar from Koinly. We also check out the new metaverse Frida Kahlo exhibition.

Sponsored by Koinly - Make Crypto Less Taxing. Koinly is a crypto tax tool with over 700+ integrations across the top crypto exchanges, wallets and blockchains. Koinly generates reports consistent with ATO guidance, incorporating all your crypto trades, staking, airdrops, and NFTs.

Use code FINDERYT22 for 30% off your first tax report! T&Cs apply.

Sponsored by Koinly - Make Crypto Less Taxing. Koinly is a crypto tax tool with over 700+ integrations across the top crypto exchanges, wallets and blockchains. Koinly generates reports consistent with ATO guidance, incorporating all your crypto trades, staking, airdrops, and NFTs.
Use code FINDERYT22 for 30% off your first tax report! T&Cs apply.

Crypto taxes are incredibly complicated and because Tegan and Tim aren't experts, they thought it best to bring one in. This week they're joined by Koinly's head of tax, Danny Talwar to delve deeper into how crypto tax works in Australia and to demystify the topic.

It might seem scary, but it doesn't have to be. They look at everything from the difference between investors and traders to what counts as a taxable crypto event. Spoiler alert: unlike fiat currency, paying for goods and services with crypto can be taxable.

We're not tax experts here at Finder, and the information found in this article is no substitute for professional advice. Consider your own situation and circumstances before relying on the information laid out here.

And at the top of the episode they visit the new permenant digital Frida Kahlo exhibition that recently opened up in Decentraland. It includes never-before-seen artworks, correspondence and digital trinkets from Kahlo's life and family. This leads into an interesting discussion around how metaverses can be utilised by museums and art galleries to showcase more of their works.

Listen to the episode: Australian crypto taxes explained:

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Credits

Hosts: Tegan Jones and Tim Bennett
Editor: Tim Bennett
Editorial: Tegan Jones

This podcast is powered by Finder. Follow Tegan and Tim on Twitter.

Show notes and sources

Frida Kahlo's Artwork Will Be Permanently Displayed on Decentraland Metaverse [Daily Coin]
Metaverse Art Week Included a Special Treat for Frida Kahlo Fans [Artnet]
Cryptocurrency and tax [ATO]
Crypto Tax Australia: Here's How Much You'll Pay in 2022 [Koinly]
Ethereum Merge Crypto Tax Guide [Koinly]

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. 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.

Track your crypto taxes with Koinly

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Name	Product	Pricing by tier (per year)	Supported exchanges
Koinly Crypto Tax Reporting		Newbie AUD $49 ⁠— 100 trades Hodler AUD $99 ⁠— 1,000 trades Pro AUD $179 ⁠— 3,000 trades Pro AUD $279 ⁠— 10,000+ trades	Supports all major exchanges	Use code FINDER23 for 30% off your first tax report! T&Cs apply. Koinly generates crypto tax reports built to comply with Aussie tax guidelines for 750+ exchanges, wallets and integrations.	Go to site More Info		loading Fetching your data...