How to use the free cryptocurrency tax calculator?

Using our free crypto tax calculator is straightforward – simply enter your transactions, including your buys and sells, plus any other activity you may have performed such as staking, DeFi or receiving airdrops and token rewards.

The calculator will instantly provide you with an estimated tax position based on the details provided. It does not include the 2% medicare levy.

For a comprehensive, ATO-compliant tax report that covers all your crypto activity across multiple wallets and exchanges, you will need to sign up for a full account with Crypto Tax Calculator and connect your accounts.

Connecting your accounts ensures you have an accurate cost basis for your assets, receive eligible deductions such as fees, and helps prevent you from overpaying on your tax or violating Australian tax law.

1. Select the crypto transactions that you want to calculate tax for

Our free tax calculator can estimate the tax owed for the following crypto activities: buying and selling (ie, trading), selling NFTs, receiving and selling airdrops, staking income, liquidity pool rewards, and leverage trading income.

You can calculate the capital gain/loss for a single activity (i.e., a single trade) or combine them to calculate your overall capital gain/loss across all activities.

Simply select the activity you would like to calculate and then fill in the details.

If you would like to calculate multiple transactions for a single activity, press “Add transaction” and add the details for each transaction.

2. Enter the details for each activity

Enter the details for each transaction you want to include in the calculations. You can include several transactions and transaction types in a single calculation.

Note: Make sure to select AUD as the fiat currency if you are preparing your taxes for the ATO, even if the transaction was made using another currency. Do this for all transactions.

Buying and selling

• Select the cryptocurrency or token you want to calculate tax for (eg, BTC, ETH, SOL).
• Enter the acquisition value, which is how much you purchased it for in AUD.
• Enter the disposal value, which is how much you sold it for in fiat currency.
• Select whether you held the crypto for 12 months or less before selling it. In Australia, crypto held for more than 12 months before being sold is eligible for the 50% capital gains tax (CGT) discount.

NFTs

• Enter the NFT you sold.
• Enter the acquisition value. This should be its value in AUD at the time you purchased it, even if you paid for it using cryptocurrency.
• Enter the disposal value, which is how much you sold it for in AUD.
• Select whether you held the crypto for 12 months or less before selling it. In Australia, crypto held for more than 12 months before being sold is eligible for the 50% capital gains tax (CGT) discount.

Airdrops

• Enter the cryptocurrency you received from the airdrop.
• Enter the fair market value of the airdrop at the time you received it, in AUD.

Staking

• Enter the cryptocurrency you staked.
• Enter the value of the staking rewards you received, in AUD.

Liquidity pooling

• Enter the currency pair for the liquidity pool.
• Enter the value of the rewards you received from the pool, in AUD.

Leverage trading

• Enter the cryptocurrency you traded.
• Enter the value of the profit or loss from the trade, in AUD.

3. Enter your annual income

Enter your taxable income for the year from your salary and any other income streams.

4. Get your results

You can find an estimate of your tax liability in the Tax Outcome section. This section updates automatically as you enter the details for each transaction. Each section indicates the following:

• Gains
• Taxable Gains
• Taxable Income
• Tax Outcome

Please note that this is just a tool for a general estimate and is not intended to replace proper crypto tax software like Crypto Tax Calculator, which is tailored to meet Australian standards.

5. Accurately calculate your tax with Crypto Tax Calculator

If you sold or traded any crypto in the past financial year, then you will need to submit your crypto-related activities on your tax return.

While simple tools like this free calculator are helpful for getting an estimate of your taxes, they are not accurate and not a substitute for professional tax software like Crypto Tax Calculator.

Crypto Tax Calculator provides full support for unique ATO reporting requirements, including Australian rules around DeFi, mining, staking and airdrops.

You can download a report ready to upload to myTax, or an accountant pack for your tax agent.

Simply import your wallets and exchange accounts, and our software will do the rest – categorising transactions, identifying capital gains and income activities, applying the 50% capital gains discount, and even identifying opportunities for savings like tax-loss harvesting.

Creating an account is free, and you only have to pay if you want to generate a tax report.

How the Free Crypto Tax Calculator works

The Simple Tax Calculator analyses your cryptocurrency transactions to estimate your tax obligations. Different activities are taxed in different ways:

When you buy and sell cryptocurrencies, the calculator determines your capital gains or losses by comparing your purchase price to your sale price. A higher sale price means a capital gain, while a lower sale price results in a capital loss.

Income-generating activities are calculated differently. Staking rewards, liquidity pool rewards, and yield farming rewards are typically treated as income based on the fair market value when received.

The calculator automatically determines whether each transaction results in capital gains/losses or income, helping you understand your potential tax obligations.

Note: This free tool provides a quick estimate and is not designed for accurate tax reporting. For precise calculations adhering to ATO rules, you will need to use Crypto Tax Calculator which will provide you with a professional report ready to file with myTax or your tax agent.

How cryptocurrency is taxed in Australia

In Australia, the ATO treats cryptocurrency as property, not currency. This means that crypto is subject to Capital Gains Tax (CGT), but depending on your activity, it may also be subject to income tax.

Capital Gains Tax

You’ll generally pay CGT when you sell, swap, or dispose of crypto in another way, including trading it or spending it on goods or services. Tax rates vary depending on how long you held the asset before selling it.

Short-term: If you’ve held your crypto for one year or less, any profit is taxed at your ordinary rate and added to your other income.

Long-term CGT discount: If you’re an individual who has held your crypto for 12 months or more, you may be eligible for the 50% CGT discount where only half of your gain is taxed. Businesses or companies are not eligible for this discount.

Income Tax

Certain crypto activities are taxed as ordinary income, not capital gains. This includes income earned from mining, staking, receiving airdrops, referral or sign-up bonuses, or receiving crypto as payment for work. These activities are taxed in AUD when you receive them at the tax rate that applies to your annual income bracket.

It’s important to note that crypto regulation is constantly changing in Australia to keep up with current events. In May 2025, an Australian judge ruled that Bitcoin qualifies as another form of money, a finding that conflicts with the ATO’s stance of treating crypto as property. While this doesn’t change any tax obligations just yet, it’s something to look out for in the future.

Keeping track of all your taxes manually can get messy. To accurately calculate your crypto taxes, you'll need a detailed record of every transaction, including purchase price, sale price, fees, and dates. That’s where software like Crypto Tax Calculator can help out, by figuring out all the calculations for you automatically when you connect a wallet or exchange account.

What affects your crypto tax?

Your cryptocurrency tax obligations depend on multiple factors, all of which the ATO takes into account when assessing your tax return:

• Holding period: If you’ve held your crypto for over 12 months, you may be eligible for the 50% CGT tax discount.
• Type of crypto activity: Your crypto may be taxed as capital gains or as ordinary income, depending on the specific crypto activity. For example, selling (capital gains tax) vs staking (income tax) vs getting paid in crypto (income tax).
• Transaction fees: Network fees, exchange fees, and gas fees can be added to your cost base or deducted from your capital profits, which can reduce the amount of tax you owe.
• Your ordinary income: Crypto gains and income are added to your other earnings for the year, which can push you into a higher tax bracket.
• Trading vs investing: If the ATO categorises you as a crypto trading business, your gains may be taxed as ordinary income rather than capital gains.

How you can lower your crypto tax bill in Australia

Looking to reduce your tax bill? There’s a number of strategies allowed by the ATO that can help reduce your crypto tax burden:

• Offset capital gains with capital losses: If you’ve sold crypto at a loss, you can use that loss to offset gains you’ve made elsewhere in your portfolio. This is known as tax-loss harvesting.
• Hold for more than 12 months to get the CGT discount: If you’re an individual and you hold your assets for over a year, you may be eligible for the 50% CGT discount.
• Choose the most tax-effective accounting method: The ATO doesn’t promote a specific inventory method over another, however, using tax-efficient inventory methods like FIFO or Specific Identification can impact your capital gain and how much tax you pay.

Learn more about crypto taxes in Australia in our dedicated guide or learn how to report your crypto tax using myTax and Crypto Tax Calculator.