How to get a Swyftx tax report

Australian-based Swyftx is a popular Australian crypto exchange, with more than 440 cryptocurrencies to trade. But if you've traded on Swyftx, you'll need to report any profits to the ATO. Koinly can help calculate your Swyftx taxes and generate your Swyftx tax report to help you easily file with the ATO. You just need to import your transaction data. Here's how.

How are Swyftx transactions taxed?

The tax you’ll pay on your Swyftx transactions all depends on how long you’ve held your asset, how much you earn, and the specific transactions you’ve made. You can learn all about it in our Australia crypto tax guide, but in brief, you’ll pay Capital Gains Tax or Income Tax, depending on your specific transactions:

• Capital Gains Tax: If you sold or swapped crypto on Swyftx, you’ll pay Capital Gains Tax on any gain. For short-term gains on assets held for less than a year, you’ll pay between 0% to 45% in tax depending on how much you earn. For long-term gains on assets held for more than a  year, you’ll receive a 50% discount.

• Income Tax: Meanwhile, if you earned new tokens on Swyftx - for example, staking rewards - the ATO generally views this as additional income and you may need to pay Income Tax upon receipt.

Wondering how specific transactions on Swyftx are taxed? Let's dive into the details.

Buying and selling crypto on Swyftx

When you buy cryptocurrency on Swyftx, it’s treated as a CGT (Capital Gains Tax) asset. You’ll need to keep track of your purchase price (also known as the cost base) and calculate any gain or loss when you sell. If you sell for more than you paid, that’s a capital gain; if you sell for less, it’s a capital loss. Holding the asset for over 12 months may make you eligible for a 50% CGT discount.

Trading crypto on Swyftx

In Australia, swapping one cryptocurrency for another on Swyftx is considered a taxable event. The crypto you swap away is treated as a sale, which may result in a capital gain or loss. The new crypto you receive is treated as a separate CGT asset, with its cost base set to its market value in AUD at the time of the swap.

Crypto bundles and auto-invest on Swyftx

Swyftx crypto bundles let you purchase a mix of cryptocurrencies in one transaction, but for tax purposes, each individual token is still treated separately. This means buying and later selling a bundle could result in multiple CGT events—one for each asset.

Similarly, the Swyftx auto-invest feature lets you dollar-cost average on a given asset or assets. While buying crypto with AUD isn't taxable, this means you'll end up with multiple assets of the same kind, all with different purchase prices and holding periods, which can have big implications for your tax bill.

Crypto tax software like Koinly can help you keep track of everything and stay compliant.

Earn rewards on Swyftx

Rewards of new tokens are generally treated as taxable income by the ATO and are subject to Income Tax upon receipt based on the fair market value of the tokens in AUD at the time you received them.

Swyftx SMSF accounts

Self-Managed Super Funds (SMSFs) follow different tax rules compared to individual investors. While crypto is still treated as a CGT asset, SMSFs may access various tax advantages—both short and long-term. Accurate record-keeping is essential for audits and compliance. A Swyftx SMSF account, paired with the right crypto tax software, can help keep everything in order. Check out our guide on Crypto SMSFs to learn more.

Does Swyftx automatically deduct taxes?

No. Swyftx does not deduct any tax liability from your transactions. You're responsible for calculating your gains, losses, or income from Swyftx and paying any tax due to the ATO.

How do I get a Swyftx tax report?

Swyftx doesn’t provide tax reports, but you can easily export your full transaction history. From there, you can either calculate your crypto taxes yourself, hand it over to your accountant, or use a crypto tax calculator like Koinly to generate a Swyftx tax report with minimal hassle.

Why can’t Swyftx give me a complete record of my tax history? 

Most crypto investors use multiple wallets and exchanges, but Swyftx can only track transactions made within its own platform. For example, if you buy Ethereum on another exchange and transfer it to Swyftx, the original purchase price won’t be recorded, making it difficult for Swyftx alone to calculate capital gains or losses accurately.

Fortunately, Swyftx integrates with crypto tax tools like Koinly, which help you track and calculate your gains, losses, income, and more across all the wallets and exchanges you use.

How do I lodge my Swyftx taxes?

You file your crypto taxes as part of your annual tax return with the ATO. You’ll report any gains, losses, or income either via the myTax portal or using paper forms NAT 2541 & NAT 2670.

If you’re doing this 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 (using an allowable cost basis method), and don’t forget to separate short and long-term gains to make sure you don’t pay too much tax!

Not only do you need to do this for your Swyftx transactions, but also for every crypto exchange or wallet you used to trade throughout the financial year. It’s a lot of work for active investors.

But Koinly makes this easy. Just connect Swyftx and Koinly automatically via API or by uploading a CSV file. Koinly then calculates your Swyftx taxes and generates your myTax report, ready to file with the ATO.

Does Swyftx report to the ATO?

Yes, Swyftx may report to the ATO. Learn more in our guide: Does Swyftx Report to the ATO?