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How to file your Coinstash taxes

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How to do your Coinstash taxes with Koinly 

Coinstash is a user-friendly crypto platform that lets you buy, sell, send and receive crypto, as well as earn reward points. Whatever your investments, Koinly can help with your crypto taxes. Here's how it works.

  1. Sign up to Koinly and choose your country (Australia) and currency (AUD)
  2. Connect Coinstash with Koinly to import all your Coinstash trades safely and securely
  3. Koinly categorizes Coinstash transactions into gains, losses and income
  4. Koinly calculates your Coinstash Capital Gains Tax and Coinstash Income Tax
  5. Download your Coinstash tax report from Koinly
  6. File your Coinstash taxes online with the ATO or with your crypto tax accountant.

Watch how to do your Coinstash taxes fast 

How are Coinstash transactions taxed?

The ATO is clear that your Coinstash transactions may be subject to either Capital Gains Tax or Income Tax and the amount of tax you’ll pay depends on how much you earn and how long you’ve held your asset. You can learn more in our Australia crypto tax guide, but in brief:

  • Capital Gains Tax: If you sold or swapped crypto on Coinstash, you’ll pay Capital Gains Tax. Although it’s referred to as Capital Gains Tax, it’s based on the same Income Tax rates - so you’ll pay between 0% to 45% tax depending on how you earn. However, if you hold your asset for more than a year, you’ll get a 50% discount.  
  • Income Tax: If you earned new tokens on Coinstash, the ATO generally views this as additional income and you may need to pay Income Tax upon receipt.

Does Coinstash report to the ATO?

Yes. Coinstash is an AUSTRAC registered exchange and as such may share customer data with government agencies upon request. 

How to integrate Coinstash with Koinly using CSV

You'll need to start by downloading a CSV file with your full trading history from Coinstash before you can upload it to Koinly - here's how.

How to download and export your transaction history CSV file from Coinstash 

  1. Log in to Coinstash
  2. Select portfolio from the top navigation menu
  3. Scroll down to transactions and select the download icon next to CSV

How to upload your Coinstash CSV to Koinly

Now you've got your CSV file, here's how to upload it to Koinly.

  1. Sign up or log in to Koinly and go to wallets
  2. Select add new wallet: Coinstash
  3. Select import from file
  4. Upload your CSV file

Important

Double check any of your Coinstash Earn transactions are tagged correctly according to the ATO’s crypto tax rules.

How do I troubleshoot my Coinstash integration to Koinly?

Problems connecting Coinstash and Koinly? No worries - there's help at hand:

Calculate your Coinstash taxes

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Does Coinstash have tax documents?

No, Coinstash doesn’t provide an ATO tax report. However, you can use a crypto tax calculator to generate an ATO compliant crypto tax report in no time at all.

How do I get Coinstash tax documents?

The easiest way to get your Coinstash tax documents is to upload a CSV file of your Coinstash transaction history to Koinly. Koinly will then calculate your Coinstash taxes and generate a tax report, ready to file with the ATO.

Does Coinstash provide financial or end of year statements?

No, Coinstash doesn’t provide a financial statement or EOFY statement for users. But you can use the export CSV function to get a record of your transaction history on Coinstash.

Do I have to pay taxes on Coinstash?

Yes - the ATO is clear crypto is taxed. You’ll pay Capital Gains Tax on any gains when you sell or swap on Coinstash, and potentially Income Tax upon receipt on Coinstash Earn tokens.

Is Coinstash safe?

Yes. Coinstash is regarded as a safe and well-regulated crypto exchange and offers strong security features like  SSO encryption and 2FA on all user accounts.

Does Coinstash require KYC?

Yes, like most Australian crypto exchanges, Coinstash has KYC verification in place for users in order to meet AUSTRAC operating requirements.

Last updated: Friday, 18 August 2023

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