How to file your BTC Markets taxes with Koinly

How to do your BTC Markets taxes with Koinly

BTC Markets is an Australian crypto exchange that's particularly popular with large-scale investors thanks to its fee tier and API trading capabilities. If you're using BTC Markets to invest in Bitcoin and other cryptocurrencies, the ATO will want their cut of your profits by the 31st of October. If you need to learn how to calculate and file your BTC Markets taxes with the ATO, you're in the right place. Here's how:


Follow these steps to sync your BTC Markets data automatically to Koinly:

  1. Log in to BTC Markets.
  2. Select account.
  3. Select API key.
  4. Create a read-only API key.
  5. Copy your API key and secret and add them to Koinly.

On Koinly:

  1. Create a free account on Koinly
  2. Complete onboarding until you get to the Wallets page and find BTC Markets in the list
  3. Select API > Paste the API keys you copied above in the appropriate box
  4. Hit Import and wait for Koinly to sync your data. This can take a few minutes
  5. Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
  6. Go to the Tax Reports page to view your tax liability!
Having trouble connecting BTC Markets with Koinly?

How are BTC Markets transactions taxed?

The tax you’ll pay on your BTC Markets transactions all depends on how long you’ve held your asset, how much you earn, and the specific transactions you’ve made - as well as where you live. You can learn all about it in our  Australia crypto tax guide, but in brief, you’ll pay Capital Gains Tax or Income Tax, depending on your specific transactions:

  • Capital Gains Tax: If you sold or swapped crypto on BTC Markets, you’ll pay Capital Gains Tax on any gain. For short-term gains on assets held less than a year, you’ll pay between 0% to 45% in tax depending on how much you earn. For long-term gains on assets held more than a  year, you’ll receive a 50% discount.

  • Income Tax: Meanwhile, if you earned new tokens from your investment activities on BTC Markets, the ATO generally views this as additional income and you may need to pay Income Tax upon receipt.

Outside Australia? Check out our other crypto tax guides to learn more!

Does BTC Markets report to the ATO?

Yes, BTC Markets may report to the ATO. As an AUSTRAC registered exchange, BTC Markets may be required to share customer data with the relevant government authorities including the ATO.

How do I file my BTC Markets taxes?

The ATO is very clear that if you're selling or swapping crypto on exchanges like BTC Markets - you'll need to pay Capital Gains Tax on any gains, as well as Income Tax on any additional income from crypto.

If you're a busy investor with a lot of transactions - it's a lot of work. But fortunately, a BTC markets tax calculator can help. To get started, you'll need your BTC Markets transaction history. Here's how to get it using API or by getting a CSV file of your transaction history.

Your frequently asked questions

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