Crypto Providers and ATO Data Matching

The ATO has issued a notice on it’s intention to collect Crypto asset data from cryptocurrency designated service providers until the 2026 financial year.

Data that might be collected and matched with the ATO include: client identification details and account names, as well as transaction details including transaction date/time, amounts of transfers, linked bank account details, wallet addresses, coin type and balance of accounts.

They’re expecting to collect data on approximately 700,000 to 1,200,000 individuals and entities each financial year for this program.

This data will then be matched to the ATO systems to identify taxpayers who fail to report a disposal of crypto assets in their income tax return.

To make this process easier for your tax return we have put together a Crypto and Dividend spreadsheet to fill out to accompany your tax return checklist form.

If you have any questions related to crypto or any of your other investments and tax advice please don’t hesitate to contact us at STS Accounting.