Loading
Happy4150(Enthusiast)Enthusiast
11 July 2024

Hello!


so I’ve read in gov website, that swapping crypto will not be a taxable event.

for example if I convert my Bitcoin to ethereum it’s not a taxable event.


it’s only taxable event if we convert or sell from crypto to Australian dollars and/or any other country dollars.


now coming to the main question ;)


If I bought a Bitcoin for 10k and it went to 20k. But want to convert this 20k into stable coins like USDT/USDC - here I’m swapping. Not selling to AUD.


so will this falls under taxable event or not. Cause I’m not selling anything I just swapped my crypto to stable cryptos.


can you please confirm !?

1,772 views
2 replies
1,772 views
2 replies

Most helpful response

All replies

treefairy(Devotee)Devotee
16 July 2024

swapping is a disposal and thus a capital gains tax event, track your gains and losses and if the end result is an overall capital gain you pay tax on it

Featured articles

How to work out your tax residency

15 Apr 2026 · 8 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    1408 likes

  2. Bruce4Tax

    (Taxicorn)

    952 likes

  3. YellowPotato

    (Taxicorn)

    403 likes

  4. Ken_Oath

    (Master)

    199 likes

  5. knaresbro

    (Devotee)

    144 likes

Top contributors

  1. Taxduck

    (Taxicorn)

    3047contributions

  2. Bruce4Tax

    (Taxicorn)

    2773contributions

  3. YellowPotato

    (Taxicorn)

    1052contributions

  4. knaresbro

    (Devotee)

    295contributions

  5. TobyJDodd

    (Devotee)

    176contributions

Loading
converting/swaping one crypto to another! taxable event or not ????? | ATO Community