How to get your CoinJar tax report
CoinJar lets users buy, sell, and store a variety of crypto assets, while CoinJar Exchange offers a variety of features appealing to more experienced investors, including direct trading and a dedicated trading API. Whatever your CoinJar investments, you'll need to pay any tax due. Koinly can help you calculate your CoinJar taxes and generate your CoinJar tax report, ready to file with your tax office.
Watch how to get your CoinJar tax report
How are CoinJar transactions taxed?
The ATO guidance on crypto tax states you’ll pay either Capital Gains Tax or Income Tax on your crypto, depending on your specific investments. The amount of tax you’ll pay depends on how much you earn and how long you’ve held your crypto. Learn more in our Australia crypto tax guide, but in brief:
Capital Gains Tax: If you sold or swapped crypto on CoinJar and made a gain, you’ll pay Capital Gains Tax on that gain. For short-term gains (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 (assets held more than a year), you’ll receive a 50% discount.
Income Tax: If you earned new tokens on CoinJar, the ATO may view this as additional income, and you may need to pay Income Tax upon receipt.
Not in Australia? Learn more about crypto tax in your country in our crypto tax guides, or read on to learn about how CoinJar transactions are taxed in more depth.
Buying and selling crypto on CoinJar
Crypto bought on CoinJar is a CGT asset. You’ll need to track the purchase price and report any gain or loss when you sell. Hold for over 12 months and you might qualify for a 50% CGT discount.
Trading crypto on CoinJar
Trading one crypto for another is taxable in Australia. The crypto you trade away is treated as a sale, which may trigger a gain or loss. The new asset starts fresh, with its cost base set to its AUD value at the time of the swap.
Bundles and recurring buys on CoinJar
CoinJar bundles let you buy several cryptocurrencies at once, but each asset is still taxed separately. Selling part or all of a bundle can trigger multiple CGT events.
Meanwhile, recurring buys let you implement dollar cost averaging (DCA) automatically by automating purchases of crypto at a given price point and time. This means you can end up with multiple purchase prices for assets of the same kind, which can have a big impact on subsequent gains and losses when you later dispose of those assets. Crypto tax software like Koinly can help make tracking and reporting much easier, including supporting allowable cost basis methods for your tax office.
CoinaJar SMSF accounts
SMSFs follow different tax rules than individual investors. Crypto is still treated as a CGT asset, but SMSFs may access various tax advantages. Accurate record-keeping is essential for audits, so using a CoinJar SMSF account along with crypto tax software can help you stay compliant. See our crypto SMSFs guide for more details.
Does CoinJar automatically deduct taxes?
No, CoinJar doesn’t handle tax payments on your behalf. It’s up to you to monitor any profits, losses, or earnings from your CoinJar activity and ensure you report them correctly to the ATO.
Does CoinJar report to the ATO?
Yes. CoinJar may report to the ATO. Learn more in our guide; does CoinJar report to the ATO?
How do I get a CoinJar tax report?
CoinJar doesn’t issue official tax statements, but you can export your full transaction history from the platform or connect with crypto tax software via API. From there, you can either work out your CoinJar taxes yourself, hand it over to your accountant, or use a crypto tax calculator like Koinly to generate a detailed tax report.
Why can’t CoinJar give me a complete record of my tax history?
Most crypto users trade across several wallets and platforms, but CoinJar can only track the cost basis that occurs within its own system. For instance, if you purchase Bitcoin on another exchange and transfer it to CoinJar, the original purchase price isn’t recorded, making it difficult for CoinJar to determine any subsequent capital gains or losses from selling or trading that Bitcoin.
The good news is that CoinJar works with Koinly, a crypto tax tool that helps you track, calculate, and report your taxes across more than 900+ wallets and exchanges in one place.
How do I lodge my CoinJar taxes?
You’ll report your crypto gains and income, including CoinJar transactions, to the ATO as part of your annual tax return. You can do this using the myTax portal or paper forms NAT 2541 & NAT 2670.
To do it yourself, start by identifying the cost basis of each crypto asset, your taxable transactions, and the kind of tax that applies. Then calculate your gains and losses, both short-term and long-term, using an allowable cost basis method.
You need to do this for your CoinJar transactions, as well as for every crypto exchange or wallet you used to trade throughout the financial year. It’s a lot of work for active investors.
Fortunately, you can use Koinly and save hours. Just connect CoinJar and Koinly automatically via API or by uploading a CSV file of your transaction history. Koinly will calculate your CoinJar taxes and generate your myTax report, ready to file with the ATO.
Please note that you'll need to connect CoinJar and CoinJar Exchange separately with Koinly. We've got instructions on how to connect both.
How to connect CoinJar and Koinly automatically using API
On Koinly
Sign up or log in to Koinly and go to wallets
Select add new wallet: CoinJar
Select set up auto-sync
Select continue to CoinJar
On CoinJar
Log in to your CoinJar account (if you're already logged in, this will take you to a page where you need to select authorize access)
Select authorize
This will take you back to Koinly where your wallet will sync
How to connect CoinJar Exchange with Koinly automatically using API
On CoinJar Exchange
Log in to your CoinJar Exchange account
Select settings
Select API key
Select read-only access
Select generate new API key
Copy the API key
On Koinly
Sign up or log in to Koinly and go to wallets
Select add new wallet: CoinJar Exchange
Select set up auto-sync
Paste your CoinJar API key
Select secure import
Important
Make sure you connect CoinJar & CoinJar exchange if you’re using both.
How to integrate CoinJar with Koinly using CSV
You'll need to start by downloading a CSV file with your full trading history from CoinJar before you can upload it to Koinly. If you’re using CoinJar exchange, you’ll also need a CSV file from there. Here's how to get both.
How to export your transaction history CSV file from CoinJar
For CoinJar
Log in to your CoinJar account
Select settings
Select reports & statements
Select transaction history statements
Select export purchase & sales CSV
Select export CSV report
Repeat steps 1 to 4, then select export deposits & withdrawals CSV and select export CSV report
Your CSV files will be sent to your email, so log in and download the attached CSV files
For CoinJar Exchange
Sign in to your CoinJar exchange account
Select fills
Select report
Select the date range - this should include your entire trading history
Select generate report
Your CSV file will be sent to your email, so log in and download the attached CSV file.
How to upload your CoinJar CSV to Koinly
Now you've got your CSV file(s), here's how to upload it to Koinly.
Sign up or log in to Koinly and go to wallets
Select add new wallet: CoinJar
Select import from file
Upload your CSV files
Important
Don’t forget to tag your transactions according to the ATO’s crypto tax rules.
Your CSV file is sent to the email address associated with your account - this should arrive in your inbox within 15 minutes.
Make sure you download the right transaction history statement, for CoinJar is the Purchase & Sales CSV and the Deposits & Withdrawals CSV. For CoinJar Exchange, it is the Fill Report you need to upload to Koinly.
Make sure when selecting your date range to include your entire CoinJar Exchange transaction history so Koinly can calculate your taxes correctly.
Reports that exceed 1,048,576 rows may not open in Microsoft Excel - this isn't an issue for most users, but if you're trading at volume, you can split your report into smaller time frames to get around this.
FAQs
Does CoinJar have tax documents?
No, CoinJar doesn't provide a tax statement for the ATO, HMRC, or any other tax office. But you can use your CoinJar transaction history to calculate your crypto taxes using crypto tax software like Koinly.
You can do this in minutes using the CoinJar tax report API. This API fetches your CoinJar transaction data and imports it to your chosen crypto tax app. Don't worry about another app having access to your CoinJar account - the API is read-only.
If you prefer to use CSV files, follow the steps above to download your CoinJar transaction history in CSV format. You can then calculate your crypto taxes yourself using this information, or upload these CSV files into a crypto tax app.
How do I get CoinJar tax statements?
CoinJar and CoinJar Exchange offer twp 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 CoinJar transaction history.
Does CoinJar provide financial or end-of-year statements?
No, CoinJar doesn't supply end of year or financial statements. But you can use your CoinJar transaction history as a financial statement to generate a tax report for your local tax office.
Follow the steps above to download your CoinJar transaction history, as well as your CoinJar exchange transaction history. Remember if you're uploading these CSV files to a crypto tax app, you'll need your complete CoinJar transaction history - so for as long as you've been using the account. This lets your crypto tax calculator calculate your short and long-term capital gains and losses accurately to ensure you pay the right amount in tax.
Once you have your CoinJar transaction statement, calculate your crypto taxes manually or upload your CoinJar financial statement to a crypto tax app to fetch a CoinJar tax statement in minutes.
When you're picking the date range, just select a date range that reflects your financial year, for example the 1st of July to 30th of June for Australian residents or the 6th of April to the 5th of April for UK residents.
Do I need to file a Capital Gains Tax Schedule for CoinJar?
It depends on your individual circumstances. You're only required to submit a Capital Gains Tax Schedule if your total capital gains from CoinJar (and any other sources) exceed $10,000 during the financial year.
Do I have to pay taxes on CoinJar?
Yes. If you have gains or income from your CoinJar transactions - you’ll need to report this to your tax office & pay any tax due. If you’re thinking of avoiding your taxes? Don’t - the penalties are steep!
Is CoinJar safe?
Yes, CoinJar is regarded as a safe and well-regulated crypto exchange and follows best security practices.
Does CoinJar have KYC?
Yes. CoinJar is an AUSTRAC registered exchange and must collect KYC data in order to operate in Australia.
