Cryptocurrency calculator

 Author: BlakeATO(Community Support)Community Support

ATO Certified Response26 Oct 2021

Hi @groan123 Are you an investor or are you a trader? If you're doing many trades and sells you might be a trader instead. This means you'd work on business income tax rules rather than capital gains tax rules. It would change how you record and report your income and trades. You can read about investor versus trader on our website: https://www.ato.gov.au/Individuals/Capital-gains-tax/Shares-and-similar-investments/Share-investing-versus-share-trading/ If you're an investor, you can choose to use first-in-first-out, last-in-first-out, highest-in-first-out, or specific-ID. You get to choose which you use. This might help when it comes to working out your CGT as an alternative to a paid service. You can read about identifying shares and similar investments on our website: https://www.ato.gov.au/individuals/capital-gains-tax/shares-and-similar-investments/keeping-records-of-shares-and-units/ There's even a "records you need to keep" section which might help in making your own spreadsheet if you don't find one suitable for your needs. :)