Returning to Australia and capital gain tax on crypto activities

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 · Accepted Answer

mau23 · Answer

I found this in the help pages of the ATO website: Becoming an Australian resident When you become an Australian resident for tax purposes (https://www.ato.gov.au/Individuals/Coming-to-Australia-or-going-overseas/Your-tax-residency/) (other than a temporary resident), you are taken to have acquired your CGT assets (https://www.ato.gov.au/Individuals/Capital-gains-tax/List-of-CGT-assets-and-exemptions/) at the same time, for their market value at that time. This is sometimes called 'deemed acquisition'. Answering my own question, I think the CGT applies only to crypto assets I own on or acquire after the day I become an Australian resident. If I sell everything before moving back to Australia I don't need to report any capital gain (which will be captured by the tax return of the country I am resident in at the time).

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