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_lasantha2020(Initiate)Initiate
12 July 2021

Hi ATO,

Can I identified as both trader and investor at the same time depend on the individual assets. Some of my crypto currencies are keeping for long period of time (staking and selling time to time rewards. But majority of the staking rewards reinvested again and again in the same contract). So in this asset I m an Investor.

And, in some exchanges I m a trader. Frequent buy and sell. But 90% of the time I end up with lost. In here I m a trader, can I set off profit and loss here and showing the net mount as my income.

Thanks a lot

2,651 views
1 replies
2,651 views
1 replies

Most helpful response

Most helpful replyATO Certified Response

_KaraBATO(Community Support)Community Support
ATO Certified Response14 July 2021

Hello @lasantha2020,

Yes you can.

There is nothing preventing you from having both an investor account and a trading account.

When determining your investor or trading status we look at the nature of your assets. If asked, you should be able demonstrate that you are transacting with cryptocurrency as a business and as an investor via your records.

For more information on transacting with cryptocurrency as an investor, as a business, and keeping records, please see our Tax treatment of cryptocurrencies page.

All replies

Most helpful replyATO Certified Response

_KaraBATO(Community Support)Community Support
ATO Certified Response14 July 2021

Hello @lasantha2020,

Yes you can.

There is nothing preventing you from having both an investor account and a trading account.

When determining your investor or trading status we look at the nature of your assets. If asked, you should be able demonstrate that you are transacting with cryptocurrency as a business and as an investor via your records.

For more information on transacting with cryptocurrency as an investor, as a business, and keeping records, please see our Tax treatment of cryptocurrencies page.

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Can I identified s both trader and investor at the same time | ATO Community