The Australian Taxation Office (ATO) announced a targeted consultation on 28/08/2026 regarding proposed public advice and guidance for crypto taxation. This follows the Board of Taxation’s earlier review and directly affects how individuals, side hustlers, investors and small businesses use Australian tax calculators for the 2025–26 income year and beyond.
Why This Is Newsworthy Now
Crypto adoption continues to grow in Australia, with many taxpayers engaging in staking, NFTs and DeFi. Existing coverage often focuses on general tax cuts or deductions, yet this consultation specifically addresses digital asset rules. Final guidance could apply to 2025–26 returns, making it essential to update calculators now to avoid compliance issues.
Key Areas Covered in the Consultation
The consultation examines:
- Capital gains tax (CGT) treatment of crypto assets
- Sourcing of income from digital assets
- Valuation methods for accurate reporting
- Related compliance obligations
These elements influence how calculators determine taxable income and CGT events.
Effects on Tax Calculator Accuracy and Functionality
Calculators must incorporate updated rules for cost bases, income timing and fair market valuations in Australian dollars. Without adjustments, users risk incorrect pre-fill data or overlooked liabilities when lodging 2025–26 returns.
Practical Examples and Step-by-Step Adjustments
Staking Rewards
Staking rewards are typically treated as ordinary income upon receipt.
- Record the exact date and AUD value at receipt using reliable market data.
- Input the amount as “other income” in the calculator.
- Track the new cost base for future CGT calculations.
NFT Sales
An NFT sale triggers a CGT event.
- Determine the acquisition cost and sale proceeds in AUD.
- Adjust the calculator’s CGT schedule for any discounts or concessions.
- Include transaction fees in the cost base.
DeFi Transactions
DeFi lending or swapping may create income events.
- Analyse each transaction for income sourcing.
- Value assets at the time of the event.
- Enter details separately to avoid double-counting.
Wallet Transfers
Transfers between personal wallets are generally not taxable.
- Maintain records showing no change in beneficial ownership.
- Update the calculator only if a disposal occurs.
Record-Keeping and Pre-Filling Tips
Organise records with dates, AUD valuations and wallet addresses. Use screenshots or blockchain explorers for evidence. Update calculator inputs before pre-filling to match ATO data and reduce amendment risks.
Potential Refund or Liability Implications
Accurate inputs may increase refunds through proper CGT discounts or create liabilities from previously unreported staking income. Early preparation helps minimise penalties.
Actionable Advice to Prepare Ahead
Review all 2025–26 crypto transactions now. Test updated calculator versions as guidance emerges. Seek professional advice for complex DeFi or NFT activity. Calculators can evolve by adding crypto-specific fields, automated AUD valuations and compliance checklists to support better optimisation and adherence to ATO rules.
Stay informed as the consultation progresses to ensure your 2025–26 return reflects the latest requirements.