Claiming Cryptocurrency Tax Losses to 31 March 2022

The 2022 financial year has had wild price fluctuations. We all experienced record price highs before Christmas, and then a significant pullback in prices in early 2022. No doubt, some taxpayers have traded at the top of the market, triggering…

Benefits of Frequent Financial Reporting for your Cryptocurrency Activity

We’ve been preparing quarterly financial reports for several clients over the past 12 months and have found the reports and process extremely helpful.  The key benefits are: Addressing reconciliation issues during the year in small chunks rather than once at the end…

How Trading Cryptocurrency Affects Profitability – Part 2 of 2

This is part 2 of our series of articles 'how a trade can go from bad to worse'. We recommend reading part 1 which outlines this core concept, and this latest article builds on the foundational principle. All tokens of…

How a trade can go from bad to worse – tax implications of making cryptocurrency trades – Part 1 of 2

This article outlines how a loss-making crypto trade may result in a combined profit (and subsequent tax to pay). Yes, this may seem strange, almost unfair, and the entire cryptocurrency portfolio including historical cost basis needs to be considered. We…