G'day, I'm a little in the same boat. I think I'll be using an accountant that knows how to handle crypto this year just to be on the safe side and see what they do for next time
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G'day, I'm a little in the same boat. I think I'll be using an accountant that knows how to handle crypto this year just to be on the safe side and see what they do for next time
I hope it all goes well for you!
After talking to the ATO, the rewards system here on Hive is considered Personal Use and doesn't need to be declared as CGT until it's sold for Australian dollars. In that case it's super easy! Say you sold a bunch today for $100, that's literally the amount you declare.
Unfortunately it's when you get to the Staking rewards it gets a bit more annoying. Then, if you're like a lot of other crypto-people (thankfully I'm not! Just Hive!) you need to know the whens and prices of every other crypto you've traded as well. At least most exchanges have that info handy.
Good luck with your return!!
Yeah nice. Thanks for the reply and in letting me know your situation update.
I really hope the ato's crypto policies get updated and simplified as this slap dash one they've put together is as clear as mud