Hi, if I spend $40,000 of my savings to by crypto and then want to put that initial $40,000 back into my bank account do I have to pay Tax on that? Or just on any possible profit made after making the initial purchase.
Hi,
to be able to withdraw $40,000 back you would need to sell all or part of what you bought with it first. If you made a gain/profit on what you've sold, that is what will be subject to tax.
Hi,
to be able to withdraw $40,000 back you would need to sell all or part of what you bought with it first. If you made a gain/profit on what you've sold, that is what will be subject to tax.
Hi @Yvo,
Crypto is a CGT asset, when you acquire it as an investment. Transactions such as disposing, exchanging or swapping might result in a CGT event.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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