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_easy123(Newbie)Newbie
30 July 2021

Hi, I prepare at moment my tax return and I can not find an answer to the following question.
I am investing in Cryptocurrency.
Can I calculate the trading fees to my capital loss or not?
Or can I Deducte the trading fees from my tax return?
How exactly are the fees handled that I pay during trading on exchanges or sending crypto to my personal wallet?
Thank you for any help.

5,377 views
3 replies
5,377 views
3 replies

Most helpful response

Most helpful reply

_KaraBATO(Community Support)Community Support
6 Aug 2021

Hi @easy123

As an investor you are not able to claim a tax deduction for the cost you incur on a capital asset, such as trading fees, against your ordinary income on your tax return.

Instead you add these fees to your cost base when calculating your capital gain or loss. These fees are added to the second element of your cost

base: incidental costs of acquiring the CGT asset or that relate to the CGT event.

You then take your cost base away from your capital proceeds and this is your capital gain or loss.

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How I deduct crypto trading fees? | ATO Community