Need to get your Swyftx tax report in time for the 31st of October ATO tax deadline? No worries - our Swyftx tax guide has everything you need to know about calculating your Swyftx taxes, and how to get your Swyftx tax report for the ATO.
How to prepare a Swyftx tax report
Calculating and reporting crypto taxes to the ATO is tricky - whether you're using Swyftx or other popular Australian exchanges. But it doesn't have to be if you use a Swyftx crypto tax calculator.
The ATO wants to know about each of your taxable Swyftx transactions. This includes both your short and long-term capital gains and losses, as well as any additional income you've made from crypto.
To get started with your Swyftx taxes, you'll need your Swyftx transaction history.
How to download and export Swyftx transaction history
There's two ways you can get your Swyftx transaction history - but one is much easier than the other.
- Use the Swyftx API to connect to crypto tax software. Your crypto tax software will automatically fetch your Swyftx transaction history and calculate your taxes for you (and generate your Swyftx tax report!). See step-by-step instructions on how to connect Swyftx and Koinly.
- Export a CSV file of your Swyftx transaction history. You can get a CSV file of your complete Swyftx transaction history instead and then calculate your crypto taxes yourself, or upload it to a crypto tax app.
Does Swyftx provide a tax report?
Swyftx does have a tax report of sorts - which is a CSV file of your Swyftx transaction history. You can then upload this to your crypto tax software or calculate your crypto taxes yourself. You can also download a PDF file of your transaction history as a Swyftx tax report.
Does Swyftx supply a financial statement?
No, but you can download your Swyftx CSV file and use this as your financial statement. You can pick the year (or the specific date range) you'd like for your financial statement and then download this as a CSV file or PDF file.
How to generate a Swyftx tax report
You can either create your own Swyftx tax statement, or use crypto tax software to generate your Swyftx tax report for you. Here's how.
DIY? You'll need to download your Swyftx CSV/PDF file first. Then identify each taxable transaction - including your short and long-term capital gains and losses, as well as any crypto income. You'll then need to identify your cost basis for each asset and your subsequent capital gain or loss for each disposal, as well as the fair market value of any crypto income in AUD on the day you received it.
If you're an active investor - it's a lot of work, which is why you might want to opt for a crypto tax calculator instead.
All you need to do with a crypto tax calculator is connect to Swyftx via API or by uploading your Swyftx CSV file. Your crypto tax app will then identify your taxable transactions, identify your cost basis, calculate your short and long-term capital gains and losses and identify the fair market value in AUD of any crypto income on the day you received it. All this information is then collated in one simple Swyftx tax report - ready to download and file with the ATO.
Swyftx CSV export
To get your Swyftx CSV file, go to your profile, then transaction history, then pick a date range and hit download csv. You're done!
You can then use this to calculate your Swyftx taxes yourself, or upload it to a crypto tax calculator. Please note, if you're uploading your CSV file to a tax calculator - you'll need your complete Swyftx transaction history, for however long you've been using the account. This is so your crypto tax calculator can accurately identify your cost basis, as well as your short-term and long-term capital gains.
Swyftx tax API
Want to swerve the spreadsheets altogether? No worries, use the Swyftx tax API to connect with crypto tax software in minutes and automatically get your Swyftx transaction history. To get your API key, on Swyftx, go to profile in the left hand menu and then select API keys, then create new key. You'll need to name your API key and select read-only as the scope. Once you've generated your API key, just copy your API key and paste it into Koinly.
Does Swyftx provide an end of year statement?
You can generate an end of year statement from Swyftx using their tax report function. Just select the financial year you're reporting on and export the file type you want (PDF or CSV).
Does Swyftx require KYC?
Yes, Swyftx requires KYC. Swyftx is an AUSTRAC registered exchange and therefore they're legally compelled to require KYC. Like many other exchanges, Swyftx has different levels of KYC verification.
Does Swyftx report to the ATO?
Yes. Swyftx is an AUSTRAC registered exchange and may share KYC data with the relevant authorities, including the ATO, to ensure tax compliance.
If you’ve been wondering if Koinly is a Swyftx tax calculator tool, the answer is - yes!
Not only can Koinly import Swyftx transaction history, but Koinly can also calculate your Swyftx taxes and generate an ATO compliant tax report.
As a Swyftx 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 will import all your Swyftx transaction data via API or through your CSV file upload.
- Koinly will then identify your taxable transactions on Swyftx, as well as the type of tax that applies according to the ATO crypto tax rules.
- Koinly will identify your cost basis, calculate your short and long-term capital gains and losses and the fair market value of any crypto income in AUD on the day you received it.
- Finally, Koinly generates your Swyftx tax report, ready to download and use to file your tax return 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.