Cointree is a popular Australian exchange with more than 240 cryptocurrencies, high levels of security and straightforward fees. Whatever your Cointree investment, Koinly can help with your crypto taxes and filing with the ATO - connect via API or upload a CSV file of your Cointree transaction history.
The ATO is clear that your Cointree transactions may be subject to either Capital Gains Tax or Income Tax and the amount of tax you’ll pay depends on how much you earn and how long you’ve held your asset. You can learn more in our Australia crypto tax guide, but in brief:
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.
The ATO expects you to report any capital gains, losses or income from crypto in your annual tax return, either using the myTax portal or the NAT 2541 & NAT 2670 forms.
To do this, you need to calculate your capital gains, losses and any income from Cointree (and any other crypto platforms), but for busy investors this can be a lot of work. You’ll need to identify your cost basis for each asset, identify your taxable transactions and the kind of tax that applies, calculate your gains and losses using an ATO approved cost basis method and separate short and long-term gains.
This is why most investors opt to use crypto tax software like Koinly. Koinly does all this for you and generates your myTax report, ready to file with the ATO. Here’s how it works.
Koinly is partnered with Cointree - so we now have Single Sign-On (SSO) via Cointree. SSO is the perfect solution for anyone who wants an easier option come tax time. With this feature, you can log in to Koinly with just one click right from within your Cointree account, and then upload your crypto transactions.
You'll need to start by downloading a CSV file with your full trading history from Cointree before you can upload it to Koinly - here's how.
Now you've got your CSV file, here's how to upload it to Koinly.
Problems connecting Cointree and Koinly? No worries - there's help at hand:
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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.
Cointree offers 2 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 Cointree transaction history.
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.
Yes - the ATO is clear crypto is subject to tax, including any capital gains or income from your Cointree transactions. It’s not a good idea to try and avoid your taxes either - the penalties are steep!
Yes. Cointree is regarded as a safe and well regulated Australian crypto exchange and has not faced any major hacks to date.
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.