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ScOutOP(Initiate)Initiate
22 July 2025

Hi all,

I’m trying to work out how to accurately calculate capital gains tax (CGT) on my crypto activity, and it’s a bit complex.

I’ve been using Revolut, Binance, and Swyftx. Some assets were sold on Binance and later transferred to Swyftx, so I need to make sure I’m not double-counting gains or disposals when reconciling transfers across platforms.

I also have a mix of holding periods:

  • Some assets were held for over 12 months, so may qualify for the 50% CGT discount.
  • Others were held for less than 12 months before selling.

My main questions:

  • Is it realistic to calculate all this myself using spreadsheets or crypto tax software (e.g. Koinly, CryptoTaxCalculator)?
  • Or would it be safer to get a crypto-competent tax agent involved to make sure I’m compliant and not missing anything?

Has anyone else dealt with multi-platform trading and holding period differences? What worked best for you?

Appreciate any advice.

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3 replies
467 views
3 replies

Most helpful response

Most helpful reply

YellowPotato(Taxicorn)Taxicorn
22 July 2025

That would be up to you. Doing the CGT calculation is one part of the process. You also need to know how to reconcile if there's unsold assets. i.e. how do you know that your working is correct? so that you know what cost base numbers to use next year.


My opinion for DIY would depend if you are savvy with basic accounting, CGT, spreadsheet/software. Spreadsheet is doable but the question would be do you have the time/understanding? & Crypto tax software is only as good as you are - still need check that's it's doing it correctly. If you have done a CGT spreadsheet for shares/units, it would be similar to that. One difference I can of is that you would need to duplicate any crypto-to-crypto transaction (A to B) and have one act as disposal (A to AUD) and the other as acquisition (AUD to B).


At the very least spreadsheet, have each platform a different sheet (in the same workbook is fine), because you need to be able check that the quantity of unsold crypto in your spreadsheet match with the portfolio at 30 June and be able to double check your data and formulas are done correctly.

All replies

Most helpful reply

YellowPotato(Taxicorn)Taxicorn
22 July 2025

That would be up to you. Doing the CGT calculation is one part of the process. You also need to know how to reconcile if there's unsold assets. i.e. how do you know that your working is correct? so that you know what cost base numbers to use next year.


My opinion for DIY would depend if you are savvy with basic accounting, CGT, spreadsheet/software. Spreadsheet is doable but the question would be do you have the time/understanding? & Crypto tax software is only as good as you are - still need check that's it's doing it correctly. If you have done a CGT spreadsheet for shares/units, it would be similar to that. One difference I can of is that you would need to duplicate any crypto-to-crypto transaction (A to B) and have one act as disposal (A to AUD) and the other as acquisition (AUD to B).


At the very least spreadsheet, have each platform a different sheet (in the same workbook is fine), because you need to be able check that the quantity of unsold crypto in your spreadsheet match with the portfolio at 30 June and be able to double check your data and formulas are done correctly.

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ScOutOP(Initiate)Initiate
22 July 2025

I am pretty good with spreadsheets. However, not very good in terms of accounting. Are there any trusted tax agents or firm you would suggest ?

YellowPotato(Taxicorn)Taxicorn
22 July 2025

Well what I meant with accounting is that if you understand some concepts like reconciling. E.g. Checking quantity. Quantity of Cost base (so last year unsold + purchase) - Quantity of Sold - Quantity of unsold = 0. Likely means you haven't double counted or missed transaction.


You could ask family or friends for any recommendations. You can also check the tax agent public register https://www.tpb.gov.au/public-register


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How can I accurately calculate crypto CGT across Revolut, Binance, and Swyftx? | ATO Community