The Australian Tax Office is collecting over a decade of crypto transaction data, and tax dodgers could be busted if they don’t properly file this tax season.
The Australian Tax Office (ATO) will be closely watching those who cashed in their crypto gains ahead of the country’s financial year ending on June 30, as taxpayers begin lodging their tax returns before the end of the month.
“The ATO has kept a keen eye on crypto in recent years — and this year is no exception,” Adam Saville-Brown, the general manager of crypto tax reporting software Koinly told Cointelegraph.
The ATO has revamped its crypto data matching program to collect data from 2014 to 2026 from “any crypto exchange legally operating in Australia,” Koinly’s tax education head Michelle Legge explained.