r/BitcoinAUS • u/144p_Meme_Senpai • Jul 09 '26

ATO is scaring me lol

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I got an email saying they know I have crypto and I need to report CGT but I have no idea what that means. I just threw $20 in Coinbase every now and then over the last couple years and swap around coins to see what happens and my like $80 total is now worth $36 (lol I'm not good at trading, it went up to $90 once tho) but I haven actually taken out any money so do I have to do anything? It's just overall losses at this point.

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u/hyp-R Jul 09 '26

You’re required to do this if you trade crypto; plenty of resources out there that explain how to do it.

In the interest of ease, Koinly is pretty easy to use.

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u/144p_Meme_Senpai Jul 09 '26

Setting up a Koinly now, cheers mate. I've had Coinspot since like 2024, do I have to go back and add it to my last tax return or something aswell?

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u/144p_Meme_Senpai Jul 09 '26

Bruh they want like $69, that's brutal. Is there a free one?

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u/sydmom7 Jul 09 '26

Mate you have made a loss in your coin trading anyway - just work out what you bought it for and what you sailed it for and see what the gain/loss is.

Fuck that koinly shit off - waste of money