Hi,
I have been living outside Australia since 2019. My Resident Return Visa was valid until July 2024.
I have been buying selling Cryptocurrency on Australian Exchanges (coinspot, etc).
Please advise if I have to pay CGT on the gains that I have made ?
Thanks
Hi @Aaman,
Non-tax residents of Australia only need to report and pay capital gains tax on Australian taxable property.
Crypto isn't considered taxable Australian property. So, you can trade 'til the cows come home and won't need to report any capital gains or losses to us if you're a non-tax resident. But Australian tax residents are taxed on their worldwide assets, including crypto. So, keep that in mind if your tax residency status changes 🙂
Hi @Aaman,
Non-tax residents of Australia only need to report and pay capital gains tax on Australian taxable property.
Crypto isn't considered taxable Australian property. So, you can trade 'til the cows come home and won't need to report any capital gains or losses to us if you're a non-tax resident. But Australian tax residents are taxed on their worldwide assets, including crypto. So, keep that in mind if your tax residency status changes 🙂
Thank you @RachATO for the information.
I have another query please.
In 2020-21 lodgement (when I was a non-resident although my RRV was valid) I did not have this information back then. Also, none of the tax accountants that I talked to had clear information about the tax implications on crypto gains for non-residents. I filed the tax returns myself. I declared the crypto gains and paid the taxes to ATO.
Is it possible to amend the lodgement for FY 2020-21 now to get the amount back?
When I try to amend the lodgement I can see the following 2 options only:
1 - You carried on a business, were a partner in a partnership that carried on a business or you were a beneficiary of a trust
2 - Your amendment relates to income received from a foreign transaction (A transaction that involves an overseas entity)
My scenario does not fit into any of the options mentioned above.
Please advise if it's possible to amend my lodgement for 2020-21 ?
And how?
Thanks!!
Aaman
Howdy @Aaman,
You can your tax return for up to two years after the notice of assessment's issued. Since it’s now 2024, you might still be within the timeframe to amend your 2020-21 tax return.
If the online amendment options do not fit your scenario, you can lodge a paper amendment form.
15 Apr 2026 · 8 min read time
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3 replies