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Author: Admin | 2025-04-28
$120,000$180,001+$51,667 + 45% of excess over $180,000ATO Individual Income Tax Rates 2024–2025The ATO announced Income Tax cuts and changes to tax brackets for the new 2024-2025 financial year. See the new rates below.SourceIncomeTax Rate$0 - $18,2000%$18,201 - $45,00016%$45,001 - $135,00030%$135,001 - $190,00037%$190,001+45%Calculating capital gains works in the same way, whether you're trading regular assets or crypto assets.A capital gain or loss is the difference in value from when you acquired your crypto to when you sold or otherwise disposed of it. If you have a profit, you have a capital gain and you'll pay Capital Gains Tax on that profit. If you have a loss from your crypto decreasing in value, then you have a capital loss and you won't pay tax.To calculate whether you have a capital gain or loss you need to start by knowing your cost basis. Put simply, your cost basis is generally whatever it cost you (AUD equivalent) to acquire your crypto plus any related fees - like purchase or sale fees.Once you know your cost basis, simply subtract this from the sale price of your crypto. If you otherwise disposed of your crypto - subtract this from the fair market value of your crypto in AUD on the day you disposed of it.EXAMPLECraig, an individual investor, bought 1 ETH in January for $1,000 plus a fee of $100. In May of the same year, he sold his 1 ETH for $2,000 plus a fee of $100. His cost basis is thus $1,100.His capital gain
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