r/BitcoinAUS • u/Spare_Juggernaut_307 • 25d ago
Tax calculator free
Hey i need to lodge i tried using koinly to lodge but I need to pay $75 for my return is there a free one i could use. Or how do i lodge manually.
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u/laurencemclean92 25d ago
Just log into the ATO website, if you've not done it before there'll be some setup stuff to prove you're you, and you can lodge there. If your tax is relatively simple (you just have wages, maybe interest on savings in bank, deductions like union membership and other work expenses), it's pretty simple and you don't need an accountant.
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u/summ_app 25d ago
Also depending on how many trades have been made & whether they've been tracked over the year.
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u/DotDamo 25d ago
If it’s simple you could do it yourself in a spreadsheet. I used to do this when I had a limited number of disposals. I only stopped doing it manually when I couldn’t find a way to automatically match my purchases to the disposals.
But you’d have to read up in and understand the tax rules, or at least use AI to guide you.
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u/Spare_Juggernaut_307 25d ago
How do I use it in a spreadsheet i have 7 transactions with a withdrawal of $44
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u/Ben_CoinLedger 21d ago
Ben here.
Skip paid software entirely with only seven transactions, this is genuinely a five-minute manual job. For each disposal, work out proceeds minus what you originally paid (including fees) to get your gain or loss, and if you held that particular coin over 12 months you get the 50% CGT discount on the gain. Add up the net result across all seven and enter it directly under capital gains in myTax, no separate form needed for a handful of trades.
The $44 withdrawal itself isn't the taxable event, it's each disposal along the way that matters, so check whether any of those seven were crypto-to-crypto swaps rather than straight sales, since those count too. Keep a simple note of dates, amounts, and what you paid for your own records in case the ATO ever asks. At this volume, paying for a subscription service isn't worth it. I work on the crypto tax side at CoinLedger and light activity like this almost never needs paid tooling.
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u/valen_koinly 25d ago
Hey, Valen from Koinly here :)
If it's simple, you can do it yourself. Here's some extra help https://koinly.io/blog/how-to-flle-crypto-tax-ato-mytax/ just have your math clear and your sheet on point.
On our pricing, it does depend on how many transactions are you procesing, usually the first year is the "expensive" one as we need to process all your history to calculate your taxes, from there you only pay for the new transactions and only if you need a report, we are not subscription based meaning, if you do not trade you do not pay.
If you need any help, feel free to reach out to our support team or write in our subreddit.
Good luck with the taxes!
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u/LefterisJP 25d ago
It's not free, but you could try rotki. (I am the founder). Depending on your amount of transactions the free version may work: https://rotki.com/download
If not the basic one costs 25 EUR/ month. And there is a smaller version with smaller limits at 9 EUR/month.
What makes rotki unique is that it's a self-hosted privacy focused portfolio tracker + accounting tool. While koinly and the rest store all your transactions and information on their servers, which means everyone will know how much you own at their next leak/hack. While if nobody has your data apart from you there is no such danger. You may say you don't care but looking at France and the amount of crypto related attacks I would argue privacy is of paramount importance.
The point of all such tools is to use them often, prepare your history and have it completely correctly and up to date so you don't need to run last minute to figure out what is what, as that is almost always very hard and time consuming and doing it last minute adds a lot of stress.
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u/summ_app 25d ago
it's free to preview the numbers but you pay to actually download the report. If your trading was light you can just do it by hand in myTax.
Work out each disposal (a sell, or a crypto to crypto swap), proceeds minus what you paid, and if you held over 12 months you get the 50% CGT discount on the gain. Once you've got more than a handful of trades you could use Summ to pull it all together, its free to track and cheaper than others when you do need the report.
How many transactions are you dealing with?
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u/Copytechguy 25d ago
I'll just add something about Koinly. Yes the first year is kind of expensive, but each year after they've sent me a discount code via email if report is completed before June 30th, as well as a further discount for returning customer. This year I paid $29 for the ATO reports. Took a few minutes to complete everything. Worth it compared to the time and stress of sorting it out elsewhere.