Reporting framework, corporate tax and individual tax treatment for digital assets in Australia, from CryptaCount's jurisdiction database covering 72 countries.
Australia: tax & reporting data
General Information
Default Framework
IFRS
Permitted Frameworks
AASB_IFRS
IFRS Mandatory For
All reporting entities. AASB standards = IFRS-converged.
Tax Year
Fiscal Year (end M6)
Functional Currency
AUD
FX Source (Reporting)
RBA
FX Source (Tax)
ATO
Transaction Rate
Daily Spot
Hyperinflationary
✗ No
Reporting — AASB_IFRS
Framework Available
✓ Yes
Crypto Classification
Intangible Asset, Inventory
Classification Notes
IAS 38 intangible (most common); IAS 2 inventory if held for sale in ordinary course. No dedicated IFRS crypto standard.
Measurement Basis
Historical Cost
Fair Value (Revaluation)
Permitted Cost Methods
FIFO, WAVG, Specific ID
Prohibited Cost Methods
LIFO
Impairment Required
✓ Yes
Impairment Type
IAS 36
Reversal Allowed
✓ Yes
NRV Write-down
✗ Not required
Fair Value Hierarchy
Level 1
Recent Standards
No dedicated IFRS crypto standard. IFRIC agenda decision (2019) confirmed IAS 38/IAS 2. IASB crypto project in pipeline, no ED yet. AASB standards are IFRS-converged. AASB has not issued specific crypto guidance beyond IFRS.
Corporate Tax — Rate & Classification
Corporate Tax Rate
30%
Crypto Classification
Capital Gains
Notes
ATO: crypto is CGT asset. Corporate CGT gains included in assessable income.
Corporate Tax — Cost Basis
Measurement Basis
Historical Cost
Default Cost Method
FIFO
Permitted Methods
FIFO, Specific ID
Taxpayer Can Elect
✓ Yes
Country Override
Standard
Override Notes
—
LIFO Conformity Req.
✗ No
Differs from Reporting
✓ Yes
Corporate Tax — Anti-Avoidance
Wash Sale
✗ Off
Window (before/after)
—
Same-Day Rule
✗ No
Loss Restriction
Unrestricted
Loss Carryforward
Unlimited
Corporate Tax — Holding Period
Holding Period Benefit
✗ No
Period
—
Benefit Type
—
Corporate Tax — Crypto Event Treatment
Staking Rewards
FMV at Receipt
Gas Fee Treatment
Add to Cost
Gas = Disposal of Native
✓ Yes
Crypto↔Crypto Taxable
✓ Yes
DeFi Wrapping
Unclear
Fork Cost Basis
Zero
Individual Tax — Regime
Tax Regime
Capital Gains
Regime Notes
CGT with 50% discount for assets held >12 months. FIFO or specific ID.
Tax Rate
45%
Rate Notes
Marginal rates 0-45% on NET capital gain (after 50% discount if >12mo). Medicare levy +2%.