Tax time and 2024 EOFY Deals for Crypto Tax Software
Another financial year has ended, and 'tax time' is upon us. Fortunately, CoinJar simplifies collecting the necessary information about your crypto investments for your tax return.
How to access Tax Statements and export your transactions
CoinJar mobile app: More > General > Reports & Statements
CoinJar.com: Settings > Reports & Statements > Transaction history statements
CoinJar Exchange: Profile drop-down arrow in the top right corner > Settings > Reports & Statements > Transaction history statements
a) Accounts > Statement
b) Fill History > Report
c) Fees > Report
d) Invoices
These reports can be exported as CSV or PDF files, which you can share with your accountant or refer to in completing your income tax return.
How to automate your tax return calculations with tax software calculators
We also recommend using dedicated crypto tax reporting software.
These apps track your crypto transactions in real time, no matter which wallet or exchange you use. At the end of each financial year, you can download ready-to-go reports that set out your capital gains and income in an easy-to-read format.
We’re delighted to offer CoinJar customers some big discounts on these apps
Crypto Tax Calculator is helping you get your taxes sorted early this year. Transform blockchain data into accountant-approved crypto tax reports with ease. Comprehensive support for centralised exchanges, DeFi and NFTs.
Use the code COINJARAU at checkout for 30% off* any paid plan. CTC is Australian owned and built to support ATO guidelines.
New Crypto Tax Calculator customers only. Discount valid for first year only. Code expires 31 July 2024.
Syla is Australia’s crypto tax software, created by a team of tax professionals, exclusively for Australian crypto investors. Get your ATO crypto tax report which is optimised to save you tax.
Secure your first year of Syla’s Budget plan for only $5.
Use the code: CJ5 at checkout for before 30 July 2024. Valid for first 1,000 subscriptions to Budget plan.
For anyone who missed out on the first promotion, or needs a different plan, the following promotion will run until 31 October 2024:
Enjoy a 50% discount on your first year with any Syla subscription.
Use the code: CJ50 at checkout for before 31 October 2024. Valid across all plans.
Koinx has recently integrated with CoinJar and is offering 50% off using the link below before 31/10/2024.
https://app.koinx.com/get-started?r=CoinJar_AU_Email&d=COINJAR50
Koinly is offering 30% off your first Koinly tax report using the code COINJAR24 at checkout. The offer is valid until July 31 2024, unless ended by Koinly earlier.
Terms and conditions: 1. Koinly reserves the right to end the offer at any time. 2. This offer cannot be used in conjunction with any other offer. 3. One use per customer, new customers only 4. Excludes Koinly CPA and B2B customers
CoinLedger gives 25% off your first tax report when using the code COINJAR at checkout until 31/10/24.
CoinTracker is giving CoinJar customers 20% off if you sign up using this link: https://www.cointracker.io/coinjar. New CoinTracker customers only. The offer expires 30/06/24.
Important: We have received reports from customers that Accointing and Crypto.com Tax are currently not providing accurate tax reports in relation to CoinJar accounts. Coinpanda’s integration with CoinJar is currently not working. CoinJar has not been provided with timeframes on when these issues will be resolved.
Ability to change accounting methods between financial years
Syla and CoinTracker and Koinx already support the ability to switch accounting methods between financial years. Koinly offers this as a beta feature to all customers and Crypto Tax Calculator is planning to release it by the tax filing deadline in Australia 31/10/2024.
CoinLedger does not support locking accounting methods, allowing customers to change between HIFO, FIFO, and LIFO across different financial years. Using software that does not support locking accounting methods and changing accounting methods from one year to another can lead to inaccurate calculation of taxes.
Koinx plans to release this feature in the future.
Redeem your CoinJar Reward points for crypto tax calculator subscription
If you have a load of CoinJar Reward Points burning a hole in your account, you can also use them to pay for a subscription to Crypto Tax Calculator or Koinly.
Check out the CoinJar Rewards Store to see our full range of available packages.
Disclaimer: Crypto Tax Calculator, Koinly, Syla, BGL, CoinLedger, Coinpanda, CoinTracker, Koinx, Crypto.com Tax and Accointing are not provided by CoinJar. If you use these services, you’ll be subject to the applicable terms and conditions of use for these products, including a separate privacy policy, which may differ from CoinJar’s privacy policy. You should read and understand all applicable terms before using them.
An investor’s guide to tax time
Dealing with crypto taxes can be complex at the best of times, so we’ve compiled this comprehensive guide to everything you need to know about crypto and taxes in 2024. If you’re new to tax returns as an investor or a trader, or could use a refresher, you might like this.
https://blog.coinjar.com/crypto-tax-everything-you-need-to-know/
Any questions
If you have any questions about the above, get in touch with Support.
Happy Trading!
CoinJar Team
UK residents: Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary.
Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.
CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).
Standard Risk Statement
The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results.
Cryptocurrency is currently not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you’re unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.