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Best crypto tax software in Australia

We’ve compared and chosen the best crypto tax software in Australia so you can meet your ATO reporting requirements.

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.

Best crypto tax software in Australia for 2024

This list was last reviewed on 24 May 2024.

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.

Best overall: Koinly

Koinly Crypto Tax Reporting

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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.

Best for DeFi: Crypto Tax Calculator

Crypto Tax Calculator Crypto Tax Reporting

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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.

Best free and low-cost crypto tax software: CoinTracking

CoinTracking Crypto Tax Reporting

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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.

Best for NFTs: CoinLedger

CoinLedger Crypto Tax Reporting

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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.

Best value: Syla

Syla Crypto Tax Reporting

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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).

Best for number of exchanges: Coinpanda

Coinpanda Crypto Tax Reporting

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.

Best crypto tax app: Accointing

Accointing

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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.

Best for Binance users: Binance Tax

Binance Crypto Tax Reporting

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.

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.

We offer a free crypto tax calculator with basic features that is designed to help you estimate your tax.

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.

May 2024 ATO update

The ATO has requested that crypto exchanges hand over the account and transaction details of up to 1.2 million accounts to help identify trades who may not be reporting their tax obligations1.

The ATO has reiterated that all crypto transactions, including buying, selling, or trading, are subject to Capital Gains Tax or Income Tax in Australia. This also extends to wrapped tokens and using decentralised finance (DeFi) protocols. 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 since 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.

1 - 3 of 7
Name Product Pricing by tier (per year) Supported exchanges
Koinly Crypto Tax Reporting
  • Newbie AUD $69 ⁠— 100 trades
  • Hodler AUD $149 ⁠— 1,000 trades
  • Trader AUD $299 ⁠— 3,000 trades
  • Pro AUD $399 ⁠— 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.
Crypto Tax Calculator Crypto Tax Reporting
  • Rookie AUD$49 — 100 transactions
  • Hobbyist AUD$129 — 1,000 transactions
  • Investor AUD$249 — 10,000 transactions
  • Trader AUD$399 — 100,000 transactions
800+ Integrations
Australian made tax software with 800+ integrations, ATO ready tax reports and support for all financial years.
Syla Crypto Tax Reporting
Syla Crypto Tax Reporting
  • AUD $59 – 10,000 transactions
  • AUD $149 – 10,000 transactions + Assurance reports
  • AUD $249 – 10,000 transactions + Lowest tax
  • AUD $349 – 10,000 transactions + Assurance reports + Lowest tax + SMSF & BGL sync
All major Australian exchanges
Affordable tax software with a generous free plan and tools to minimise tax.
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Price disclaimer: Last verified June 2023. Prices are subject to change and should be used as a general guide only.
1 - 1 of 1
Name Product Fee for unlimited income items (Wages) Deduction Item Fees Online tax returns
Cryptocate Cryptocurrency Tax Reporting
Cryptocate Cryptocurrency Tax Reporting
Free quotes available
N/A
Australia wide
Get 20% off Cryptocate’s engagement fee with the code “Finder2023”.
Cryptocate offers specialised cryptocurrency tax reporting for individuals and businesses, including trading data collection and CGT reports.
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Purchase value (AUD) Sold value (AUD) Have you held this asset for 12 months or longer?
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Taxable income (salary plus other income, including capital gains)
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Crypto Capital Gains Amount
Crypto Taxable Capital Gains
Crypto Capital Gains Tax Amount
Net Profit After Crypto Capital Gains
Important information
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.

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

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.

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