Does Swyftx Report to the ATO?

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Swyftx

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

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

Swyftx, along with other major cryptocurrency exchanges, reports to the ATO. Since 2019, the ATO has had a data sharing program with Australian exchanges. The agency has used this program to send warning letters to Australian investors.

Do I have to pay taxes on my Swyftx transactions?

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

If you’ve earned or disposed of (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 Swyftx legal in Australia?

Yes. Swyftx is a trusted exchange that serves more than 800,000 investors in Australia.

How do I avoid Swyftx taxes in Australia?

Remember, there is no way to legally evade your taxes in Australia.

However, you can consider using cryptocurrency tax software to find your biggest tax-loss selling opportunities and help you save thousands of dollars legally. Remember, cryptocurrency losses can offset capital gains in Australia.

Get a Swyftx tax report today

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

CoinLedger integrates with Swyftx 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.

Crypto Tax Overview

How is cryptocurrency taxed in

Australia