How to Access My Tax Reports
To access your tax reports, simply login into your BTC Markets account and select the 'Account' tab from the menu at the top of the page, then select the sub tab 'Tax Report'.
From here, you can choose the financial year, disposal method and your tax residency status, and then generate the relevant tax reports.
What Reports Are Available?
Estimated Taxable Events - A summary of the estimated taxable gain or loss (from transactions made on your BTC Markets account), and any estimated taxable income (from rewards and airdrops). Each of these summaries will only show if taxable events have occurred during the specified financial year.
All figures are reported in Australian Dollars (AUD).
Wallet Balance - A snapshot of your account holdings at the end of the specified financial year.
Detailed Tax Report - A downloadable CSV extract containing a detailed line item for each taxable transaction / event, including the relevant information, calculations and running totals for the specified financial year.
Blockchain Transaction Report - A downloadable CSV extract containing the blockchain IDs for all cryptocurrency deposits and withdrawals for the specified financial year. Note that only withdrawals will have 'To Wallet' data.
Please be advised that fees may be charged by the blockchain network on deposits to an exchange which you are responsible for determining and keeping a record of. BTC Markets charges fees on the withdrawal of assets from the exchange to an external wallet which are displayed in the Detailed Tax Report.
Please Note: If you haven't had any taxable events during the financial year, not all/any of these reports will be available.
Glossary of Terms
Financial Year
The year spanning 1st July - 30th June. BTC Market tax reports are available for all financial years since 2017/2018.
Disposal Method
- FIFO: First In First Out - this is where the assets that are acquired first (oldest asset holdings), are disposed of first when calculating your estimated taxable gain or loss.
- LIFO: Last In First Out - this is the opposite to FIFO; the assets that are acquired last (most recently) are disposed of first when calculating your estimated gain or loss.
Date & Timestamp
The date and time at which a transaction occurred.
Transaction ID
Our unique internal ID attached to each transaction. This ID can be used to identify any individual transaction which has occurred on your account.
Transaction Type
- Buy Order: the purchase of a volume of cryptocurrency.
- Sell Order: the sale of a volume of cryptocurrency.
- Deposit: the addition of fiat (AUD) or cryptocurrency funds to your BTC Markets account.
- Withdraw: the removal of fiat (AUD) or cryptocurrency funds from your BTC Markets account.
- Reward: the receipt of cryptocurrency rewards earned by way of staking or an airdrop.
- Chain Split: the receipt of a new cryptocurrency due to a chain split / fork.
Blockchain ID
Unique ID from the underlying blockchain network of the cryptocurrency, used to identify an individual transaction.
To Wallet
The address where the cryptocurrency has been deposited to.
Asset
Aka 'base asset', this is the first asset listed in a market pair e.g. BTC/AUD - BTC is the base asset. It represents how much of the quoted asset (see below) is needed for you to get one unit of this asset.
Quote Asset
The second asset listed in a market pair e.g. BTC/AUD - AUD is the quoted asset. It represents how much of this asset is needed for you to get one unit of the base asset.
Volume
The total amount of the cryptocurrency being transacted.
Price
The price of the cryptocurrency at which the transaction was executed.
Fees
The fees, expressed in AUD and inclusive of GST, charged on the transaction.
Net Value
The final value of the transaction, regardless of transaction type and after fees, expressed in AUD.
Costs
This varies by transaction type:
- Buy Order/Deposit/Reward: The allocated cost base of the transaction (inclusive of any fees).
- Sell Order: The cost based used to calculate the estimated capital gain/loss (inclusive of any fees). This will vary depending on the disposal method selected.
Proceeds
The amount received, expressed in AUD, from the sale of a cryptocurrency asset, less any fees.
Estimated Taxable Gain/Loss
The estimated taxable gain or loss for a specific transaction that is not a reward.
Estimated Taxable Income
The estimated taxable income from the receipt of a reward or airdrop transaction.
Opening Balance
Opening balance of the cryptocurrency volume, held in your BTC Markets wallet, at the time of transaction.
Volume (In)
Wallet balance increase due to buys, deposits, rewards or splits.
Volume (Out)
Wallet balance decrease due to sells or withdrawals.
Closing Balance
Closing balance of the cryptocurrency volume, held in your BTC Markets wallet, after the transaction has occurred.
Asset Estimated Taxable Gain/Loss (AUD)
The estimated taxable gain or loss for all transactions of a specific cryptocurrency asset in your BTC Markets account for the specified financial year.
Asset Estimated Taxable Income (AUD)
The estimated taxable gain or loss for all reward transactions associated with a specific cryptocurrency asset in your BTC Markets account for the specified financial year.
Total Estimated Taxable Gain/Loss (AUD)
The estimated total taxable gain or loss for all transactions/assets on your BTC Markets account for the specified financial year.
Total Estimated Taxable Income (AUD)
The estimated taxable gain or loss for reward transactions for all transactions/assets on your BTC Markets account for the specified financial year.
ATO Guidance
If you would like further guidance on how your estimated taxable gain or loss has been calculated, please refer to the ATO’s website on transacting with cryptocurrency.
For more information about Tax Residency Status, please refer to the ATO's website on Your tax residency.
Further Support?
If you require any additional support or have further questions, please raise a ticket with our support team.