Accurate crypto tax reports that save you tax

Crypto is a CGT asset in Australia, which for investors is subject to Capital Gains and Losses. Whenever you sell crypto for more than you purchased it, it will result in a Capital Gain, which needs to be declared to the ATO on your tax return.

Capital gains, interest, and other forms of income must be declared as assessable income in your tax return. The exact tax rate will depend on your total income for the year and the tax bracket you fall into.

It's required to declare your capital losses, and you'll want to do so anyway, as losses can be declared on your tax return to significantly reduce your future tax bill by offsetting your gains.

Properly declaring your capital losses ensures compliance with tax regulations and creates a clear record if you are ever audited or need to provide detailed documentation of your transactions.

Even if your crypto is still on your exchange or wallet, you need to declare your gains from any sales, swaps, or other disposals. You'll also need to declare any interest, airdrops, staking, and other sources of income from your crypto.

The ATO operates an extensive data matching program with all Australian AUSTRAC-registered exchanges. Under this program, Australian exchanges share information on your crypto investments with the ATO and know when you buy, sell, and even transfer your crypto to an external wallet.

Airdrops, staking, and mining are all forms of assessable income in Australia and need to be declared to the ATO. You'll need to determine the equivalent AUD market value at the time of the event and declare it as income on your tax return.

In some situations, an airdrop may be considered an 'Initial Allocation Airdrop', which is not immediately taxable but will be taxed on its full value when later sold or disposed of.

Syla is an Australian crypto tax calculator that helps you generate a crypto tax report and optimise your tax outcomes.

Syla supports over 500 exchanges, blockchains and wallets, and is an approved tax partner for CoinSpot, BTC Markets, Binance, CoinJar, Coinstash, Digital Surge, and many others.

Using Syla, you can connect to your exchanges and wallets to import your transactions, edit as needed, and download a crypto tax report for your accountant or for self-lodgment.

No, once you set up a subscription in Syla, you'll have access to all your historical financial years as well as the current financial year. There's no additional cost.

All plans in Syla are annual subscriptions. When you make a purchase, you are paying for a 12-month subscription to the selected plan, which will automatically renew in 12 months.

While you have an active subscription, you can continue to use Syla to sync and import transactions, review your portfolio, and download as many reports as you need.

You can upgrade your plan at any time, and you'll only need to pay the difference in price to the next plan.

You can downgrade or cancel your subscription at any time. Canceling your subscription will stop the auto-renewal, but you'll still have access to the plan you purchased for the remaining time.

Detailed features and inclusions for the plans are available on the pricing page.

Yes, Syla supports NFTs and DeFi, including detection of on-chain swaps, liquidity pools, and other transactions. In general, all major contracts and protocols for each chain are supported.

For niche protocols, the transactions will be imported but may require manual reclassification.

Syla automatically does transaction consolidation and aggregation which can significantly reduce the number of transactions which are actually imported.

We recommend doing an import first to see how many transactions you actually end up with, as it may be significantly fewer than you expect.

If you do end up with more than 100k transactions, then you'll need to aggregate your transactions before importing them into Syla to stay under the limit.

Our team is also developing improvements to increase the maximum number of transactions.

Yes, we design Syla with security in mind, and follow industry standard best practices to keep your data safe.

For our exchange and wallet integrations, Syla only requires read-only access to view your transaction history.

Syla will never ask you for keys with permissions other than 'read-only'. Where detected, Syla will automatically reject API keys which give elevated permissions, delete them from our system, and recommend you to do the same.

Using Syla, you can download a crypto tax report that contains your tax outcomes; it does not lodge your tax return.

You can provide your crypto tax report to your tax agent, who can prepare your tax return for you, or you can use it when self-lodging your tax return with the ATO using myTax.

When you first sign up for Syla, you'll be automatically placed on the free plan. You don't even need to provide a credit card, making it an easy way to try things out.

The free plan has no time limit, and you'll have access to import transactions from your exchanges, wallets, and blockchains, as well as make any edits you need to. You'll even be able to view the tax outcomes on individual transactions.

You'll need to purchase a subscription to access your final tax outcomes and download your crypto tax reports.