You know you need to sort your crypto tax. Here's what you actually need to do.

1. Export your transaction data

Start here. Pull CSVs from every exchange and wallet you've used. Most exchanges make this straightforward: CoinSpot, Swyftx and Independent Reserve all have tax report exports built in. If you use international exchanges (Coinbase, Kraken, Binance), they have exports too.

For on-chain wallets, you don't need anything fancy. Your public wallet address is enough. Summ can pull transaction history directly from the blockchain.

Don't forget the less obvious ones: DeFi platforms you've used, staking rewards, NFT marketplaces, lending protocols. If you moved money and got something back, that's a transaction the ATO will want to know about.

Why this matters: the ATO receives data directly from Australian exchanges. Any gaps between what you report and what they have on file creates a problem later.

2. Find assets at the 12-month mark

This is where most people leave money on the table. Australia's capital gains tax rules let you claim a 50% discount on the gain if you've held an asset for at least 12 months. The difference is real.

3. Look for losses you can use

If you're holding assets that are worth less than you paid for them, selling them before June 30 lets you offset gains you've made elsewhere. This is called tax loss harvesting and the ATO allows it.

There's one rule you need to know: don't immediately buy the same asset back. The ATO calls this a wash sale. If you sell an asset to lock in a loss and then buy the same asset again within a short period, the ATO can cancel those losses and add penalties.

4. Generate your tax report before the deadline

Don't wait until October. Knowing your tax position beforehand gives you time to act on it if you need to. You can still sell assets, adjust holdings, or get advice from an accountant before the year ends.

Summ pulls all your transaction data and creates a tax report showing exactly what you owe. You can review it yourself, share it with an accountant, or use it to complete your ATO MyTax return when lodgement opens in early July.

5. Keep five years of records

The ATO requires records for five years from the date you lodge your return. That means records from this return need to be accessible until 2031.

What you might need: transaction dates, the AUD value at the time of each transaction, what you bought or sold, and wallet addresses for on-chain activity. Spreadsheets work. Your exchange statements work. Screenshots of transactions work. Just keep them.

Get started

Summ does the heavy lifting on the report generation and calculations. Export your transactions, add them to Summ, and you'll have a complete picture of your tax position before June 30. From there, you can make decisions based on actual numbers instead of guessing.

Start your Summ account now and get your report done before EOFY.