Does Bybit Report to the ATO?
If you're using Bybit in Australia, the ATO may know more about your crypto than you think. Learn whether Bybit reports to the ATO and what it means for you.
Australia isn’t a restricted country for Bybit, but the exchange isn’t licensed to operate there.
As such, the exchange operates in a somewhat legal grey area, where they may not share data with AUSTRAC.
AUSTRAC-registered exchanges collect KYC data and have a data-sharing agreement with the ATO.
Is Bybit legal in Australia?
Sort of. Bybit is not licensed or regulated in Australia, but it is not banned either.
While the platform operates without approval from Australian authorities such as ASIC or AUSTRAC, Australians can still legally access and use it. However, since it’s unregulated, users have no local legal protections if issues arise.
Bybit does enforce some KYC and anti-money laundering measures, but it is not formally registered. Despite its regulatory status, Australian users are still required to report any crypto income or gains from Bybit to the ATO for tax purposes.
Read next: Best Crypto Exchanges Australia
Does Bybit report to the ATO?
It’s not clear whether Bybit reports to the ATO, as it isn’t officially registered with any Australian regulatory body.
Generally speaking, crypto exchanges are required to register with AUSTRAC and Digital Currency Exchanges in order to operate in Australia, and have to verify the identity of users through KYC processes as part of these requirements.
Since 2019, the ATO has run a data-sharing program with crypto exchanges based in Australia. As part of this initiative, these platforms must submit detailed user transaction data to the ATO. In some cases, this information may be pre-filled in your tax return, particularly if you’ve disposed of crypto, prompting you to review and accurately report any capital gains or other taxable activity.
Given the strict approach that Australian regulatory authorities generally have for crypto exchanges, it’s not clear whether Bybit has flown under the radar thus far or whether there’s an alternative agreement in place.
What do crypto exchanges report to the ATO?
The ATO works with selected data sources to gather information from crypto platforms, though specific details aren't publicly confirmed. Based on published examples, the ATO may collect personal data such as your full name, date of birth, contact details, ID verification info, and IP addresses. It may also receive account-related data, including wallet addresses, linked bank accounts, transaction records, balances, and transfer history.
Read next: Can the ATO track crypto?
How do I report my Bybit taxes to the ATO?
If you’ve traded on Bybit, any gains, losses, or income must be reported to the ATO as part of your annual tax return, due by October 31st each year.
Capital gains or losses should be reported in the Supplementary Section of the individual tax return (NAT 2679), while any crypto-related income belongs in the standard Tax Return for Individuals (NAT 2541). You can complete and submit your return online through the ATO’s myTax portal.
Since Bybit doesn’t provide ATO-compliant tax reports, many Australian users rely on crypto tax calculators such as Koinly to track transactions, calculate totals, and generate accurate tax documents.
Read next: Australian Crypto Tax Guide
Report your Bybit taxes with Koinly
Koinly makes reporting your Bybit transactions to the ATO easy. You can import your trading data automatically via API or upload a CSV file securely.
Once your data is uploaded, Koinly calculates your capital gains, losses, income, and other relevant figures, then generates an ATO-compliant myTax report along with any additional documents needed for your tax return. Learn more about how to prepare your Bybit taxes with Koinly.
FAQs
Do I have to pay tax on my Bybit transactions?
Yes. Any profits from taxable Bybit transactions are subject to tax in Australia. Read our Australia crypto tax guide for more info.
Do I need to file a Capital Gains Tax Schedule for Bybit?
You only need to file a Capital Gains Tax Schedule if your total capital gains from Bybit and any other sources combined exceed $10,000 during the financial year.
Is Bybit registered with AUSTRAC?
No. Bybit is not registered with AUSTRAC.
How do I avoid Bybit taxes in Australia?
There’s no legal way to fully avoid paying tax on crypto in Australia, but there are legitimate strategies to help reduce your tax bill. Techniques like tax loss harvesting can lower your overall liability.
Tools like Koinly offer features such as tax optimization and asset maturity tracking to support smarter tax planning. For more information, check out our guide on avoiding crypto tax in Australia.
