Announcements
COVID-19 update: Check out our answers to common questions about JobKeeper payment and early release of super.

ATO Community

crypto currency trading fund

Highlighted

Newbie

Views 262

Replies 1

Is there a capital loss available if a crypto managed fund investment went under? There was a Bitcoin amount put into a crypto currency fund. It turned out this was a scam and all of it was lost. Is there a CGT event, so a capital loss can be realised? If not how would this be treated?
1 ACCEPTED SOLUTION

Accepted Solutions
Highlighted

Best answer

Community Support

Replies 0

Hi @pyata

 

Welcome to our Community!

 

Generally speaking, as cryptocurrency can been seen as an investment, if you've lost your investment you can claim a capital loss. Check out our guide on How do I calculate capital gains tax on cryptocurrencies? for more information. 

 

Thanks, JodieH. 

1 REPLY 1
Highlighted

Best answer

Community Support

Replies 0

Hi @pyata

 

Welcome to our Community!

 

Generally speaking, as cryptocurrency can been seen as an investment, if you've lost your investment you can claim a capital loss. Check out our guide on How do I calculate capital gains tax on cryptocurrencies? for more information. 

 

Thanks, JodieH.