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yhk1993(Newbie)Newbie
4 July 2024

Hi guys question about Crypto Staking Taxes


Lets say I bought $100,000 worth of USDT (Stable coins) and stake it for 12 months at an annual return of 10%. Then that means at the end of the year I will get a gain of $10,000 USDT (Total of 110,000). Keeping in mind that the crypto value of the USDT does not change as it is pegged 1 - 1 to the US dollar. Does this mean that $10,000 that I gain will be subject to tax and will the 12 months Capital gains tax concession (50% concession) apply to this gain?


If it does apply then my total gains will be (50% times $10,000) $5,000, right?


Just some clarity required.


Thanks

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1 replies
178 views
1 replies

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Most helpful reply

AriATO(Community Support)Community Support
10 July 2024

Hi @yhk1993


If you're still the owner of your coins, there's no CGT event. Do you want to reach out to us for tailored technical assistance? This'll help us understand more about your situation to give you specific advice.

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Calculating crypto taxes on Staking and CGT Discount | ATO Community