Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
Akithosuby(I'm new)I'm new
22 June 2022

Hi ATO Team,


I am an international student in Australia with a visa (subclass 500). Accourding to the residencey tool I am considered as an 'Australian resident for tax purposes'.

Before I come to Australia I used to buy and sell Cryptocurrencies through 'binance' and 'coinbase.io'. I used my home countries bank account to do these transactions.

Do I need to pay taxes for this ?


I came to Australia in Janury 2022 After comming into Australia I didn't buy or sell Cryptocurrencies but still own Cryptocurrencies and they are still sitting in those binance and coinbase.io accounts.


Also when registering to these accounts for the KYC verification process I used my home countries driving licence. After comming into Australia I used my home counties driving licence to convert and get my Australian driving licence.


So, i have 2 issues,

1)Do I need to pay taxes on these ?

2) Do I need to declare these when doing my tax refund ? 

846 views
1 replies
846 views
1 replies

Most helpful response

Most helpful reply

JodieR_ATO(Community Support)Community Support
24 June 2022

Hi @Akithosuby,


If you arrived in Australia in January 2022 and became a resident for tax purposes, acquisition date of your overseas capital assets is looked at from date of arrival. So you'll need to know market value of your crypto' the day you arrived here.


The only time we don't consider capital assets from overseas is if you are under the foreign income exemption for temporary residents. You can check the webpage information for further guidance on this. If you don't meet the requirements, then once you sell or dispose of your overseas capital assets, they'll be reportable here. If you pay tay on the amount OS, you may also be able to apply a foreign income tax offset.

All replies

Most helpful reply

JodieR_ATO(Community Support)Community Support
24 June 2022

Hi @Akithosuby,


If you arrived in Australia in January 2022 and became a resident for tax purposes, acquisition date of your overseas capital assets is looked at from date of arrival. So you'll need to know market value of your crypto' the day you arrived here.


The only time we don't consider capital assets from overseas is if you are under the foreign income exemption for temporary residents. You can check the webpage information for further guidance on this. If you don't meet the requirements, then once you sell or dispose of your overseas capital assets, they'll be reportable here. If you pay tay on the amount OS, you may also be able to apply a foreign income tax offset.

Featured articles

How to work out your tax residency

15 Apr 2026 · 8 min read time

Crypto and your taxes

4 Dec 2023 · 9 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    1271 likes

  2. Bruce4Tax

    (Taxicorn)

    1115 likes

  3. YellowPotato

    (Taxicorn)

    338 likes

  4. Ken_Oath

    (Master)

    199 likes

  5. knaresbro

    (Devotee)

    141 likes

Top contributors

  1. Bruce4Tax

    (Taxicorn)

    3395contributions

  2. Taxduck

    (Taxicorn)

    2810contributions

  3. YellowPotato

    (Taxicorn)

    883contributions

  4. knaresbro

    (Devotee)

    295contributions

  5. TobyJDodd

    (Devotee)

    176contributions

Loading
Do international students in Australia need to pay taxes on cryptocurrencies that they hold in home? | ATO Community