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How to file your Cointree taxes with Koinly

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Last updated: Monday, 30 January 2023

How to do your Cointree taxes with Koinly

Cointree is a popular Australian exchange with more than 240 cryptocurrencies, high levels of security and straightforward fees. Whatever your Cointree investment, Koinly can help with your crypto taxes and filing with the ATO - connect via API or upload a CSV file of your Cointree transaction history.

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

Watch how to do your Cointree taxes fast 

How are Cointree transactions taxed?

The ATO is clear that your Cointree 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 Cointree, 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 Cointree, the ATO generally views this as additional income and you may need to pay Income Tax upon receipt.

Does Cointree report to the ATO?

Cointree may report to the ATO. As an AUSTRAC registered exchange, Cointree is part of a data sharing program with the relevant government authorities - including the ATO.

How do I file my Cointree taxes?

The ATO expects you to report any capital gains, losses or income from crypto in your annual tax return, either using the myTax portal or the NAT 2541 & NAT 2670 forms.

To do this, you need to calculate your capital gains, losses and any income from Cointree (and any other crypto platforms), but for busy investors this can be a lot of work. You’ll need to identify your cost basis for each asset, identify your taxable transactions and the kind of tax that applies, calculate your gains and losses using an ATO approved cost basis method and separate short and long-term gains. 

This is why most investors opt to use crypto tax software like Koinly. Koinly does all this for you and generates your myTax report, ready to file with the ATO. Here’s how it works.

How to connect Koinly and Cointree automatically

On Cointree

  1. Log in to Cointree
  2. Select your profile icon in the top right corner
  3. From the drop down menu, select settings
  4. From the top navigation menu, select API keys
  5. Give your API key a name, for example, Koinly
  6. Select generate API key + secret
  7. Copy your API key and API secret

On Koinly

  1. Sign up or log in to Koinly and go to wallets
  2. Select add new wallet: Cointree
  3. Select set up auto-sync
  4. Paste your API key & secret
  5. Select secure import

Important

Koinly is partnered with Cointree - so we now have Single Sign-On (SSO) via Cointree. SSO is the perfect solution for anyone who wants an easier option come tax time. With this feature, you can log in to Koinly with just one click right from within your Cointree account, and then upload your crypto transactions.

How to integrate Cointree with Koinly using CSV

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

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

  1. Log in to Cointree
  2. Select wallet from the top navigation menu
  3. Select transactions
  4. Select export
  5. From the drop down menu, select export orders (csv)
  6. You'll also need your transactions csv, so select export again, then select export transactions (csv) from the drop down menu
  7. Now select sign in to Koinly. You'll now be redirected to the Koinly website

How to upload your Cointree 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: Cointree
  3. Select import from file
  4. Upload your CSV file

Important

Don’t forget to tag your transactions according to the ATO’s crypto tax rules.

How do I troubleshoot my Cointree integration to Koinly?

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

Calculate your Cointree taxes

Sign up free today to calculate your Cointree taxes

Does Cointree have tax documents?

No, Cointree doesn’t provide a tax report ready to file with the ATO. Instead, you’ll need your transaction history. You can use this to calculate your taxes by uploading it to a crypto tax calculator which will generate an ATO-compliant tax report in minutes. 

How do I get Cointree tax documents?

Cointree offers 2 easy ways to export your transaction history to connect with crypto tax software - like Koinly - and generate tax forms. Either connect via API or upload a CSV file of your Cointree transaction history. 

Does Cointree provide financial or end of year statements?

Cointree does supply a PDF account statement, for both the current financial year and previous financial year. You can find this in the transactions page within Cointree.

Do I have to pay taxes on Cointree?

Yes - the ATO is clear crypto is subject to tax, including any capital gains or income from your Cointree transactions. It’s not a good idea to try and avoid your taxes either - the penalties are steep!

Is Cointree safe?

Yes. Cointree is regarded as a safe and well regulated Australian crypto exchange and has not faced any major hacks to date.

Does Cointree require KYC?

Yes, you'll need to complete KYC verification before you can buy, sell or trade crypto on Cointree. Cointree is a registered digital currency exchange with AUSTRAC - as such, they must have KYC verification processes in order to operate in Australia.