• Minimising Tax

  Crypto CGT preparing Individual Tax Return

  Posted by spicyt on May 18, 2023 at 12:16 am

  Hi SE community,

  I’ve been studying the webinar on minimising tax and I am completing an individual tax return for 2022. I traded crypto in 2022 which is considered a capital gain by the ATO. According to the ATO I need to complete the Tax return for individuals (supplementary section). Although in the webinar, in the tax payer’s declaration, Mark indicates a no answer to the question on the requirement to complete the ‘Tax return for individuals (supplementary section)’. So what I’d like to know is firstly, do I need to fill out the extra “supplementary section” as the ATO request and secondly is there anything that I need to add to or alter in the ‘Declaration in the form of an affidavit’ due to the capital gains?

  Thanks SE commune🙏

  Buz replied 2 years ago 3 Members · 3 Replies

  • crypto
• 3 Replies

• 

  morag-janet-of-the-hill-family

  Member

  May 18, 2023 at 10:08 am

  If you look out for the next Q and A session, that would probably be the place to get an answer to this question if none of the members who have had experience in this area reply to this.

  • 

    spicyt

    Member

    May 18, 2023 at 1:51 pm

    Thanks, I will if I don’t get any answers

• 

  Buz

  Member

  June 5, 2023 at 6:35 pm

  I think Mark has previously said that any monies that were derived from your crypto activities were a product of your labour. ie you did research, performed mental activity, studied the market etc. The productivity of a man’s labour cannot be taxed.

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