Need help getting your Cointree taxes calculated and filed with the ATO in time for the 31st of October tax deadline? Not a problem - our Cointree tax guide has everything you need to know about how to calculate your Cointree taxes and get your Cointree tax report ready to file with the ATO.
How to prepare a Cointree tax report
Let’s face it - calculating your crypto taxes for the ATO isn’t easy. The ATO wants to know about each of your taxable transactions on Cointree (and any other crypto exchange or wallet!). This includes your capital gain or loss from any time you sold, swapped, spent or gifted crypto throughout the financial year, as well as any additional income you made through other investment activities like staking.
Fortunately, a Cointree tax calculator makes this much easier. To get started, you’ll need your Cointree transaction history.
How to download and export your Cointree transaction history
Cointree makes it easy to fetch your transaction history - you just need to export a couple of CSV files from the platform, which you can find under the transactions page in the platform.
In even better news, Cointree is making it easier than ever to connect with a crypto tax calculator, as they’re adding API support ASAP. Watch this space - we’ll update it soon!
Once you’ve got your Cointree transaction history CSV file, you can use it to calculate your taxes yourself, or upload it to a crypto tax app and let it do the complicated calculations for you.
Does Cointree provide a tax report?
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.
Does Cointree supply a financial statement?
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.
However, you’ll need your complete Cointree transaction history in order to calculate your crypto taxes correctly. This is because it matters when you acquired and sold your crypto - as it dictates its tax treatment. If you’ve held your crypto asset for less than a year at the point you sell, swap, spend or gift it - you’ll pay tax at your regular Income Tax rate. If you’ve held your crypto asset for more than a year at the point you sold, swapped, spent or gifted it, you’ll receive a 50% discount. In other words, if you don’t take into account how long you’ve held the asset, you may end up paying more tax than you need to!
How to generate a Cointree tax report
Do it yourself or use a crypto tax calculator.
DIY? Download a CSV file of your Cointree transaction history. Now identify each taxable transaction - this includes any time you sold or swapped crypto. You’ll need to identify the cost basis (how much the asset cost you plus any transaction fees) and subtract this from your sale price or the fair market value of your crypto on the day you swapped it in AUD. You’ll also need to identify your short-term capital gains from your long-term capital gains, and subtract any capital losses (strategically in order to reduce your tax bill to the lowest possible amount) and file these figures with the ATO. You may also need records should the ATO wish to audit your crypto taxes.
It’s a lot of work - especially if you’re using multiple crypto exchanges and wallets as you’ll need to do this for every exchange, wallet or blockchain you use. This is why most Australian investors opt to use a crypto tax calculator.
All you need to do if you’re using crypto tax software is upload your Cointree CSV files to your app. Your app then does all of the above for you, and generates an ATO compliant tax report - ready to download whenever you’re ready to file your lodgment.
Here’s how to get your CSV file.
Cointree CSV export
To get your Cointree CSV file, log in and select wallet from the top navigation menu. Now select transactions from the new menu below. You’ll need two files to get your complete transaction history - your orders CSV and your transactions CSV. You can get both by selecting export and then export orders (csv) and export transactions (csv) from the drop down menu.
Cointree tax API
An API makes crypto taxes even easier, as your crypto tax app can use it to automatically fetch your transaction data with no need for downloading and uploading multiple CSV files. Cointree doesn’t have a tax API just yet - but it’s in development and coming very soon. We’ll update this article as soon as the Cointree tax API is live.
Does Cointree provide an end of year statement?
Cointree provides a PDF account statement for the previous financial year, current financial year and a PDF holding statement. Just head to the transactions page and select export to download each.
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.
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.
If you’ve been wondering if Koinly is a Cointree tax calculator tool, the answer is - yes!
Not only can Koinly import Cointree transaction history, but Koinly can also calculate your Cointree taxes and generate an ATO compliant tax report.
As a Cointree tax calculator, Koinly is able to do a bunch of impressive tasks that save you time and can even save you from paying too much in tax:
- Koinly imports all your Cointree transaction data via CSV file upload.
- Koinly identifies your taxable transactions on Cointree, including identifying non-taxable transfers from disposals.
- Koinly identifies your cost basis for each crypto asset, calculates your short and long-term capital gains and losses and the fair market value of any crypto income (like airdrops!) in AUD on the day you received it.
- Finally, Koinly generates your Cointree tax report, ready to download whenever you’re ready to file with the ATO.
The information on this website is for general information only. It should not be taken as constituting professional advice from Koinly. Koinly is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the website information relates to your unique circumstances. Koinly is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.