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Australian Cryptocurrency Tax Tool Comparison

Do I have to pay tax on cryptocurrency trades?

Short answer: Yes. Generally speaking cryptocurrency trading is considered the same as share trading (I.E. capital gains/losses).

The ATO provide a good overview, but with respect to keeping records it is less than useful. There are a number of services that can help. We have tested some of the more common platforms and posted our results below.

Tax Tool Comparison

Scroll down to our methodology for more information on our testing methods. We manually calculated the AUD difference for trades and compared the reports of various tax tools.

  • Simple Intra-exchange Manually Calculated Result: -$3.28
  • Complex Intra-exchange Manually Calculated Result: -$34.40



Application Intra-Exchange Simple Intra-Exchange Complex Cost
Koinly logo

Reported: -$3.28
Accuracy: 100%

Reported: -$34.04
Accuracy: 99.0%

  • US$49/FY: <= 100 Transactions
  • US$99/FY: <= 1,500 Transactions
  • US$179/FY: <= 3,000 Transactions
  • US$279/FY: 10,000+ Transactions
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CryptoTaxCalculator.io logo

Reported: -$3.28
Accuracy: 100%

Reported: -$33.96
Accuracy: 98.7%

  • $49/Year: <= 100 Transactions
  • $127/Year: <= 2,500 Transactions
  • $249/Year: <= 10,000 Transactions
  • $399/Year: <= 100,000 Transactions
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Cointracking.info logo

Reported: -$3.28
Accuracy: 100%

Reported: -$34.03
Accuracy: 99.0%

  • Free: <= 100 Transactions
  • US$131.88/Year: <= 3500 Transactions
  • US$203.88/Year: <= 20,000 Transactions
  • US$659.88/Year: 100,000+ Transactions
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Cointracking.info logo

Reported: -$3.28
Accuracy: 100%

Reported: -$34.03
Accuracy: 99.0%

  • US$49/FY: <= 100 Transactions
  • US$99/FY: <= 1,500 Transactions
  • US$199/FY: <= 5,000 Transactions
  • US$299/FY: 5,000+ Transactions
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Cointracker.io logo

Reported: -$0.41
Accuracy: 12.5%

Reported: -$31.13
Accuracy: 90.5%

  • Free: <= 25 Transactions
  • $85/Year: <= 100 Transactions
  • $265/Year: <= 1,000 Transactions
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Bear.tax logo

Reported: -$0.41
Accuracy: 12.5%

Reported: -$31.19
Accuracy: 90.7%

  • US$10/FY: <= 20 Transactions
  • US$45/FY: <= 200 Transactions
  • US$85/FY: <= 1000 Transactions
  • US$200/FY: 1000+ Transactions
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Note that variances are expected to some extent. Applications use different methods of valuing cryptocurrency and different methods of calculating fees. E.g. some may value the cryptocurrency in USD and then convert the USD value to AUD, while others may value cryptocurrencies in BTC and use a BTC-AUD valuation method.

Our Methodology

We use three different tests outlined below that have clear AUD amounts that we can calculate. We try to use CSVs, but if the application has an error then we setup an API key.


Intra-exchange Simple Trade

A cryptocurrency purchase is made with AUD and then sold for AUD on BTC Markets. Test File

Intra-exchange Complex Trade

A cryptocurrency purchase is made with AUD, then traded for a second cryptocurrency and sold for AUD all taking place on BTC Markets. Test File

Inter-exchange Simple Trade (Coming Soon)

A purchase is made on Binance with AUD, withdrawn to BTC Markets where it is then sold for AUD again. Binance Trade File Binance Withdrawal File BTC Markets Trade File

Contact Us

This project was developed by Sublime IP. We have a 30+ history providing Global IT services in 70+ countries.

If there is a popular tax tool you want to see us add then please submit it below.


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