How to do your HardBlock taxes
HardBlock is an Australian crypto exchange that specialises in Bitcoin and is an ideal platform for both Bitcoin investors and SMSFs. Whatever your investments, Koinly can help you calculate your HardBlock taxes and report them to the ATO. All you need is a CSV file of your transaction history. Here's how to get it.
Follow these steps to download your Hardblock data:
- Log in to Hardblock.
- Navigate to the export transaction history CSV option.
- Export your CSV file.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Hardblock in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from Hardblock (one at a time) and click on Import
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
How are HardBlock transactions taxed?
The Australian Taxation Office (ATO) outlines specific rules for how cryptocurrency activities are taxed. If you're using HardBlock, your crypto activity could fall under either Capital Gains Tax or Income Tax, depending on what kind of transaction you're making:
Capital Gains Tax (CGT) Selling or trading crypto through HardBlock is typically considered a disposal, which can trigger Capital Gains Tax. The amount of tax you’ll owe is based on your regular income tax rate (ranging from 0% to 45%). However, if you held the asset for over 12 months before selling, you may be eligible for a 50% CGT discount.
Income Tax: If you received new cryptocurrency through activities such as staking rewards, airdrops, or other earn-style features on HardBlock, this is usually treated as ordinary income by the ATO. This means the value of those tokens at the time you received them must be included in your taxable income.
Learn more in our Australia crypto tax guide.
Does HardBlock report to the ATO?
Yes. HardBlock is registered with AUSTRAC and may be required to share customer details, including personal data and transaction records, as part of the ATO's data sharing program. Learn more in our guide: Can the ATO track crypto?
How do I lodge my HardBlock taxes?
When lodging your tax return with the ATO, you’re required to disclose any crypto-related income, gains, or losses, including those from HardBlock. You can submit this information through the myTax system or by using paper forms NAT 2541 and NAT 2670.
If you're handling it manually, the process involves more than just plugging in numbers. You'll need to:
Work out the original purchase cost (cost base) of each asset
Identify which transactions are taxable
Determine whether each one is subject to Capital Gains Tax or Income Tax
Apply an ATO-compliant accounting method to calculate gains and losses
Split your gains into short-term and long-term categories
And remember, this doesn’t just apply to HardBlock. You’ll need to do the same for every crypto platform and wallet you've used.
That’s why many Australian crypto investors use a crypto tax calculator like Koinly, which can automatically track and calculate everything across platforms. It also generates a pre-filled myTax report, ready to lodge with the ATO.
FAQs
Does HardBlock have tax documents?
No, HardBlock doesn’t generate a tax report specifically for the ATO. However, you can export your transaction history from HardBlock and use it with crypto tax software, like Koinly, to calculate your gains, losses, and income, and generate an ATO crypto tax report.
Does HardBlock provide financial or end-of-year statements?
Not directly, but you can use your HardBlock transaction history as a financial record. This data can serve as the foundation for creating a tax summary that meets ATO requirements.
Do I have to pay taxes on HardBliock?
Yes — the ATO has made it clear that cryptocurrency is taxable, including any profits or income from your HardBlock transactions. Ignoring your tax obligations isn’t worth the risk; the ATO imposes serious penalties for non-compliance.
