Does Trust Wallet Report to the ATO?

Trust Wallet is one of the most popular cryptocurrency wallets. It allows Australians to store thousands of cryptocurrencies, access decentralized apps (dApps), and swap tokens across multiple blockchains. 

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Because it’s non-custodial, Trust Wallet does not hold your funds or require Know Your Customer (KYC) verification. That said, some of its fiat partners (like MoonPay) may require KYC if you purchase crypto directly through the app.

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Even though Trust Wallet itself does not send tax forms to the ATO, your wallet address can likely be linked to your identity.

No. Trust Wallet does not collect identity information or report to the ATO.

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However, the ATO’s crypto assets data-matching program is one of the most advanced in the world. It already requires Australian exchanges to hand over customer records and transaction histories, which are then cross-checked against tax returns. 

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If you transfer crypto from an exchange to Trust Wallet (or vice versa), the ATO can connect your wallet to your identity.

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Crypto transactions on Trust Wallet and other platforms are subject to tax.

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• Capital gains. Selling, swapping, or spending crypto through Trust Wallet triggers capital gains tax (CGT). You’ll owe tax on gains, but if you’ve held the asset for more than 12 months you may qualify for the 50% CGT discount.

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• Ordinary income. Staking rewards, airdrops, and DeFi yields are taxed as income based on their fair market value at the time of receipt.

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Moving crypto between your own wallets (for example, from Binance Australia to Trust Wallet) is not taxable.

Not directly. Trust Wallet does not require KYC when you create a wallet.

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• Non-custodial by default. You can set up Trust Wallet without verifying your identity.

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• ‍Third-party providers. If you purchase crypto using fiat integrations (like Binance Connect), those providers may run KYC checks.

Yes. Trust Wallet is legal to use in Australia. But the ATO’s data-matching program means your cryptocurrency activity can be tracked and should be reported. 

You cannot legally avoid taxes. But you can reduce your liability:

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• Tax-loss harvesting. By selling crypto at a loss, you can offset capital gains and reduce your tax bill.

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• Using cryptocurrency tax software. Crypto tax software like CoinLedger automatically tracks your Trust Wallet transactions and identifies tax-saving opportunities.