Australia Specific Classifications

Deposits

Withdrawals

1 – Airdrops are considered to be ordinary income and subject to Income Tax at the time of receipt. However, if the tokens acquired are part of the “initial allocation” of a project, i.e., they have not been traded prior to the airdrop, they would not be considered ordinary income or capital gain.

2 – ICO, OTC and Swap classifications act similar to orders. The deposit (acquisition) of the new coins is not taxable, but the withdrawal (coins traded) is taxable. 

3 – Adjustments from use of reconcile function due to variances between imported data and actual balances. Disclosed separately in your tax report.

4 – Margin gains, losses and fees are reported separately in your tax report. 

5 – Fees that are allocable to a specific crypto asset are included as part of your tax basis within your taxable disposals. Internal fees are also included within your capital gains per the ATO guidance. These fees represent other fees such as fiat deposit fees that are not directly allocable to a specific crypto asset.

6 – Treated as nontaxable. The amount is reported separately in your tax report as it may be deductible in limited circumstances; refer to the Tax Guide for deductibility.