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Does Gemini 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 Gemini’s tax reporting policies within Australia. We’ll also break down a simple way to report your Gemini taxes in minutes.

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

Gemini has been registered as a Digital Currency Exchange (DCE) with AUSTRAC since August, 2019. AUSTRAC is a government agency specifically designed to prevent financial crimes like money laundering and tax evasion. As a result, it’s likely that Gemini reports relevant information to the Australian government.

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

Since 2019, the ATO has used data matching to crack down on crypto tax fraud. The ATO uses information provided by exchanges like Gemini 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 Gemini transactions?

Yes. In Australia, your transactions on Gemini 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 Gemini legal in Australia?

Yes. Gemini operates legally in Australia.

How do I avoid Gemini 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 Gemini tax report today

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

CoinLedger integrates with Gemini 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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