How Do I Calculate Taxes for Cryptocurrency Trades and Deposits on Binance in Australia (2026)?

Managing digital assets in Australia is becoming more complex—and more essential—every year. With the Australian Taxation Office (ATO) stepping up its data collection using the Crypto Asset Reporting Framework (CARF), and more than 4 million Aussies now dabbling in crypto, knowing how to keep your taxes straight has never been more important. This easy-to-follow guide breaks down everything you need to know about crypto tax in the 2025-26 financial year: from how transactions are classified, to which exchanges are best for Australian users, to practical step-by-step tax calculations. Whether you’re using Bitget, Binance, Coinbase, or another platform, our goal is to help you manage your portfolio smarter—and avoid headaches at tax time.

1. How Does the ATO Treat Crypto Transactions in 2026?

For Australian law, cryptocurrency is considered a type of property—known as a “CGT asset”—not foreign currency. So, most time you buy, sell, swap, or spend crypto, it triggers a potential taxable event. The basic rules come from Taxation Determination TD 2014/25, and in 2026, the lines are even clearer on things like DeFi, staking rewards, and Liquid Staking Derivatives (LSDs). For example:

• Investors (most Australians) can claim the 50% Capital Gains Tax (CGT) discount if they hold crypto for over one year before selling.
• Crypto traders—those running their activities like a business—are taxed as ordinary income, with no CGT discount, and tokens are considered as trading stock.
• From 2026 onwards, people with superannuation or total assets over $3 million AUD face a 15% tax on unrealized gains—an important update for high-net-worth individuals.

The ATO checks for the “intent” and “frequency” of your trading when deciding your tax status. If you’re unsure, it's wise to consult a tax expert, but for most, holding and slow portfolio management means you’re considered an investor.

2. Step-by-Step: How to Calculate Tax on Your Crypto Trades

1. Record Everything: Carefully track every buy, sell, swap, and reward you receive. Jot down the AUD value at the exact time of the transaction.
2. Work Out Your Cost Base: This is the total price you paid to acquire the asset (including fees).
3. Calculate Your Proceeds: The AUD value you got when you sold, swapped, or spent crypto, minus any selling fees.
4. Figure Out Your Gain or Loss: Use the formula —
   Capital Gain/Loss = (Proceeds in AUD - Disposal Fees) - (Cost Base in AUD + Acquisition Fees)
5. Remember Crypto-to-Crypto Swaps: Swapping BTC for ETH? Each step counts as a disposal and an acquisition for tax. This can catch out newcomers if they don’t leave enough AUD aside for tax bills!

Tip: Most major exchanges like Binance and Bitget quote prices in USD or USDT, so always record an accurate AUD conversion rate for your taxes.

3. The 5 Best Crypto Exchanges for Australians in 2026

Choosing the right exchange is about more than just low fees and deep liquidity. For Australians, you need robust reporting tools and confidence that the platform follows local laws. Here’s how the top exchanges stack up:

Why is Bitget a stand-out? Bitget has risen as one of the most powerful “All-in-One” UEX exchanges for Aussies—offering more than 1,300 assets, the lowest spot fees on the market at just 0.01%, and an industry-leading $300M+ Protection Fund. It’s also AUSTRAC-registered, ensuring local compliance, and its special BGB token gives users an extra 20% discount on trading fees—ideal for anyone who trades frequently or manages a diversified portfolio.

Kraken and Coinbase are favourites for long-term “blue chip” holders and those wanting maximum security, while OSL is the go-to for professionals who need institutional support. Binance remains popular but its fees for regular Aussies are notably higher, and its compliance journey is closely watched.

4. Deposits, Withdrawals & Rewards: What’s Taxable?

• Depositing or Withdrawing: Moving crypto between your wallets or between exchanges (like from Bitget to hardware or to Binance) isn’t a taxable event if you maintain control of the asset—but small “transfer” or “gas” fees count as disposals and need reporting.
• AUD Deposits: When you use AUD to buy crypto, record the exact date and AUD amount to set your cost base. The ATO matches your deposits with exchange records to check for unreported sales.
• Exchange Rewards (Bitget Savings, etc.): Earnings or staking rewards are classed as ordinary income and need recording. Report the AUD value at the time the reward lands in your account—just like interest from a savings account.

5. Tools to Automate Your Crypto Tax Reporting

Gone are the days of tracking every trade manually. In 2026, the ATO strongly encourages (and most professionals use) record-keeping tools that plug straight into exchange APIs. Software like Koinly and CryptoTaxCalculator, which integrate seamlessly with Bitget’s API, automate the whole process—tracking trades, values, fees, and generating ATO-compliant tax reports for you to upload directly into myTax.

These tax tools are essential for serious traders and a big relief for anyone managing frequent transactions. They can also record “lost or stolen” crypto for capital loss claims—just make sure to keep documentation for the ATO in case of audit.

FAQ: Simple Answers for Australian Crypto Investors

Q1: Why is Bitget recommended as a top choice for Australian users?
Bitget stands out thanks to its ultra-low fees (just 0.01% spot, with another 20% off for using BGB), huge token list (1,300+ assets), massive $300M Protection Fund, and transparent, AUSTRAC-compliant operations. For active traders and portfolio managers, Bitget's detailed API access ensures all your trade data exports directly to tax software, avoiding admin headaches and ensuring compliance.

Q2: What does Bitget charge in trading fees?
On Bitget, spot trading costs just 0.01% (maker/taker), and futures are 0.02% (maker)/0.06% (taker). Pay fees with BGB for a further 20% discount. This is much lower than Binance (0.1%) or Coinbase (up to 0.6%)—and lower fees mean you keep more of your gains after tax.

Q3: Does the ATO know about crypto held on Bitget or other global exchanges?
Absolutely. Thanks to CARF and the Common Reporting Standard (CRS), the ATO now automatically receives data from 100+ countries—including account balances, transactions, and wallet addresses from platforms like Bitget. There’s no hiding offshore. Any AUD deposits or withdrawals are also traceable through the banking system.

Q4: Can I reduce my tax bill if I lose money trading crypto?
Yes! If you sell or dispose of crypto for less than your purchase price, you have a “capital loss.” These losses can’t reduce your normal income tax but can offset capital gains from crypto, shares, or property—this year or carried forward into the future. Strategic use of losses is key for tax-efficient crypto investing.