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Does Binance Report to the ATO?

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Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Binance’s tax reporting policies within Australia. We’ll also break down a simple way to report your Binance taxes in minutes.

Does Binance report to the Australian Taxation Office (ATO)?

Binance is registered with AUSTRAC, a government agency specifically designed to prevent financial crimes like money laundering and tax evasion. As a result, it’s likely that Binance shares information about your taxable income with the Australian government.

What does the ATO do with the information that Binance provides?

Since 2019, the ATO has used data matching to crack down on crypto tax fraud. The ATO uses information provided by exchanges like Binance to track crypto transactions and identify individuals who have not met their tax obligations. 

In the past, the ATO has used this information to send warning letters to hundreds of thousands of cryptocurrency investors. 

Do I have to pay taxes on my Binance transactions?

Yes. In Australia, your transactions on Binance or other platforms are subject to capital gains tax and ordinary income tax. 

If you’ve earned or disposed (ex. Sold or traded away cryptocurrency) during the year, you’ll have a tax liability to report to the ATO. 

For more information, check out our complete Australia guide to cryptocurrency taxes

Is Binance legal in Australia?

While Binance has pulled out of certain countries like the US on regulatory grounds, the exchange legally operates in Australia.

How do I avoid Binance taxes in Australia?

Remember, there is no way to legally evade your taxes in Australia. However, there are tools like tax-loss selling and cryptocurrency tax software that can help you save thousands of dollars legally.

Get a Binance tax report today

Looking for a simple way to report your Binance taxes? With CoinLedger, you can import your Binance transactions and auto-generate a complete gains, losses, and income tax report in minutes.

CoinLedger integrates with Binance and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.

You can get started with a free preview report today.


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