I have been trading in Cryptcurrency over last 2 years using ,firstly, the Coinjar App, then the Binance App. Do I have to supply profit and loss for every trade within the App,or just Deposits,Withdrawals,Opening and Closing balance for financial year.??
Do I have to supply profit and loss for every trade within the App,or just Deposits,Withdrawals,Opening and Closing balance for financial year.??
If you are a genuine trader, then your tax return shows all the required details in the business section = P1 onwards.
For a trader, cypto is trading stock to be valued each 30 June at cost or market value.
Cash deposits and withdrawals are not relevant - you need to show:
sales
less cost of sales.
Cost of sales = opening stock + purchases - closing stock
Best to go to a tax agent.
If you do not meet the strict rules for being a genuine trader, then you need capital gain or loss for each sale.
Do I have to supply profit and loss for every trade within the App,or just Deposits,Withdrawals,Opening and Closing balance for financial year.??
If you are a genuine trader, then your tax return shows all the required details in the business section = P1 onwards.
For a trader, cypto is trading stock to be valued each 30 June at cost or market value.
Cash deposits and withdrawals are not relevant - you need to show:
sales
less cost of sales.
Cost of sales = opening stock + purchases - closing stock
Best to go to a tax agent.
If you do not meet the strict rules for being a genuine trader, then you need capital gain or loss for each sale.
15 Apr 2026 · 8 min read time
4 Dec 2023 · 9 min read time
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