Get Sorted For Tax Time With Binance Australia!

2023-06-23

Tax season can be a stressful time, even more so when dealing with cryptocurrency transactions. To keep our Aussie users on track during tax preparations, we have three incredible resources: the Crypto Tax 101 Video Series, the Binance Tax Tool, and some amazing offers from our Tax Partners, Koinly and Crypto Tax Calculator. In this blog, we'll introduce you to these handy resources that can help you prepare for tax returns this season. Get ready to tackle your crypto taxes like a pro!

Step 1: Learn about Crypto Tax!

Welcome to Crypto Tax 101, a video series brought to you by Binance Australia. Crypto Tax 101 is here to help you understand the complex world of crypto tax in Australia.

In this series, we’ll be providing simple explanations of what you need to know about crypto tax. We’ll be hosting subject matter experts from Cadena Legal, Crypto Tax Calculator, and Koinly to cover everything. From the basics, like what is considered taxable and what isn’t, to more advanced topics like defi, staking, airdrops, and liquidity pools across popular tokens including Bitcoin and Ethereum.

Whether you're new to crypto or an experienced trader, this series will give you the tools you need to build a foundational understanding of how crypto tax works and how it could impact your crypto holdings and trading activity.

Our first video will answer a simple question… is crypto taxable in Australia? Watch along on our socials or find the whole series on our Binance Australia YouTube Channel.

Step 2: Use Binance Tax Tool to generate Free Tax Reports

Tax season is a dreaded time of the year for many — especially crypto users. Scouring a spreadsheet and computing all your transactions, gains, and losses throughout the past year can be, well, taxing. For day traders, who normally deal with thousands of transactions yearly, this means putting in extended hours to ensure the accuracy of their filings come tax reporting time.

If you’re struggling to stay on top of your crypto taxes or simply looking to speed up the process, make sure to check out our recently launched crypto tax tool, Binance Tax. 

With just one click, you can now generate and download tax reports for use when preparing tax returns. These include a Realised Capital Gains Report, Income Gains Report and Transaction Report. 

Binance Tax is still in its early launch phase, so its algorithm doesn’t yet cover all transaction types within our vast ecosystem. Binance users should adjust their final tax reports accordingly.*

Try Binance Tax Tool Today →

Step 3: Take advantage of our great Partner Offers!

Koinly Special Offer For Binance Australia Users

As a Binance Australia user, you now have the opportunity to leverage the power of Koinly to make your crypto tax reporting quick, simple and reliable. Exclusive to Binance users, enjoy a 30% discount on your first Koinly tax report. Follow the details below to take advantage of this amazing offer.

Discount Code: BINANCE23

Discount amount: 30% off

Valid until: October 31st, 2023

To claim this offer, simply use the code 'BINANCE23' for 30% off your first Koinly tax report at checkout on https://koinly.io/au/

Crypto Tax Calculator Special Offer For Binance Australia Users

As a Binance Australia user, you can now enjoy a limited-time special offer from the Crypto Tax Calculator. Take advantage of a 30% discount on their services and streamline your crypto tax reporting in no time.

Discount Code: BINANCE23

Discount amount: 30% off

Valid until: August 15th, 2023

To claim this offer, simply use the code 'BINANCE23' for 30% off your first Crypto Tax Calculator tax report at checkout at https://cryptotaxcalculator.io

Summary

By using the resources in this blog, Aussie users can seamlessly prepare for tax season with Crypto Tax 101 Video Series, the Binance Tax Tool, and exclusive offers from Tax Partners Koinly and Crypto Tax Calculator. These valuable resources and partnerships make the process of navigating crypto taxes in Australia both straightforward and stress-free. Thank us later!

Disclaimer

This content is for general information purposes only, not investment advice. Cryptocurrencies, including Bitcoin, are volatile and fluctuate on a day-to-day basis, thus, trading requires proper diligence and sound judgement in order to evaluate the risks associated. 

Binance Tax  does not calculate your specific tax obligations and/or assist you with determining whether your transactions are taxable. Binance Tax assists you by generating relevant summary reports of your trading activity in order for you to calculate your tax obligations through your own methodology.

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses. Binance and Binance Australia reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.