Crypto.com has expanded its free Crypto Tax Reporting Service to Australia, making it easier for locals to file crypto tax returns.
Offering an alternative to Koinly, Crypto.com has tailored its Tax App to meet Australian tax requirements, working with professional tax advisers to ensure calculations are consistent with domestic laws for filing crypto taxes in Australia.
Click on the Try It Now link from Crypto.com’s blog, sign up and log in. From there, you can import your crypto data using the API Sync service or choose an alternative method. After a few minutes, you will see that all your crypto tax information has been imported. Now just export the file and download your tax reports and you’re done. Well, almost.
It May Be Free But It’s No Magic Bullet
Crypto.com promises to “make it easier to file crypto taxes at no cost”, but like Koinly, Crypto.com isn’t a magic bullet and doesn’t solve all crypto tax problems perfectly. Common issues arise with some transactions not importing correctly – which leaves you with the headache of tackling these errors manually.
Nevertheless, Crypto.com Tax is the first crypto tax product on the market to provide an entirely free service for anyone who needs to prepare their crypto tax, no matter how many transactions they have. Crypto.com Tax supports multiple wallets and exchanges.
For further tax tips, read Crypto News Australia‘s recent report on the Australian Tax Office’s free crypto tax fact sheet. And be aware that the ATO now targets Aussie crypto investors.
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