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:

  1. Log in to Hardblock.
  2. Navigate to the export transaction history CSV option.
  3. Export your CSV file.

On Koinly:

  1. Create a free account on Koinly
  2. Complete onboarding until you get to the Wallets page and find Hardblock in the list
  3. Click on it and select "File import" in the import options screen
  4. Upload the files you downloaded from Hardblock (one at a time) and click on Import
  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 Hardblock with Koinly?

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?
Does HardBlock provide financial or end-of-year statements?
Do I have to pay taxes on HardBliock?