What happened
The Australian Taxation Office reaffirmed that crypto assets are subject to capital gains tax upon disposal, including fiat sales, crypto-to-crypto swaps, gifts, and purchases. Under current rules, Australian residents holding assets for at least 12 months qualify for a 50 per cent CGT discount.
Why it matters here
From 1 July 2027, crypto CGT rules will transition to inflation-based indexation and a 30 per cent minimum tax on real capital gains. Capital gains accumulated prior to 30 June 2027 will remain eligible for the 50 per cent discount, making historical acquisition cost records essential.
What to watch
Additional ATO tax guidance releases ahead of the 30 June 2027 transitional cut-off date for assessing asset cost bases.
Source
camdenprofessionals.com.au