This page provides guidance on the methods for calculating profits and losses for each type of transaction.
Transactions types on cryptact:
Please refer to the following for the different transaction types and their respective processing methods on the cryptact transaction page.
No. |
Transaction type |
How it is processed |
PNL |
Examples |
|
| 1 | BUY | Buy at the price*1 on the transaction date and time | × | - | Buy crypto on exchanges/Peer to peer trading |
| 2 | SELL | Sell at the price*1 on the transaction date and time | 〇 | Capital gain/loss | Sell crypto on exchanges/Peer to peer trading |
|
3 |
BONUS |
Profit recognized at the price*1 on the transaction date and time |
〇 |
Ordinary income | Airdrop |
| Ordinary income | Campaign reward/Referral reward | ||||
| 4 | BONUS(margin) | Profit recognized at the price*1 on the transaction date and time | 〇 | Capital gain | Profits from cryptocurrency-denominated margin trading |
| 5 | Loss (margin) | Loss recorded at the cost basis*2 | 〇 | Capital Loss | Losses from cryptocurrency-denominated margin trading |
|
6 |
LOSS |
Loss recorded at the cost basis*2 |
〇 |
Capital Loss |
The exchange shut down, and the tax office confirmed it can be reported as a loss |
| EXPENSE | Recorded as expense | 〇 |
Expense | The exchange shut down, and the tax office confirmed it can be reported as a expense | |
| 7 | REDUCE | Decrease the quantity*3 without affecting the PNL | × | - | The exchange shut down, but the tax office doesn't allow it to be reported as a loss. |
| 8 | STAKING | Profit recognized at the price*1 on the transaction date and time | 〇 | Ordinary income | Received a staking reward |
| 9 | LENDING | Profit recognized at the price*1 on the transaction date and time | 〇 | Ordinary income | Received a lending interest |
|
10 |
LEND |
Locks the coins in the stated quantity |
× |
- |
Lend coins through lending services |
|
11 |
RECOVER |
Unlocks the coins in the stated quantity |
× |
- | Received back the coins that were lent to lending services |
| 12 | MINING | Profit recognized at the price*1 on the transaction date and time | 〇 | Ordinary income | Received a mining reward |
| 13 | SENDFEE |
1. Generate a transaction to sell the coins used for fees at market value and record the profit or loss as a Capital Gain/Loss. 2. Record the number of coins used for fees × market value as an Expense. |
〇 |
|
Transfer fee |
| 14 | PAY | Sell at the price*1 on the transaction date and time | 〇 | Capital gain/loss | Purchasing goods/services with cryptocurrency |
| 15 | BORROW | Incorporate the price as of the recorded date into the cost basis*2 | × | - | Borrowed coins |
| 16 | RETURN | PNL is calculated as (price at the time of borrowing - cost basis*2) * quantity | 〇 | Capital gain/loss | Returned the borrowed coins |
| 17 | LEVELUP | Add to the cost basis *2 of NFTs | × | - | Level-up in STEPN |
| 18 | CASH | Loss in fiat currency | 〇 | Cost (Expense) | Purchasing goods/services with fiat currency |
While our calculations are generally based on Australian Taxation Office (ATO) guidelines, certain areas without clear ATO guidance follow the advice of a certified tax professional (CPA). Calculation methods may change once official guidance is issued.
*1 Price: the market value obtained from cryptact (for supported coins only) / the transaction price provided by the exchange / the price entered by the user.
*2 Cost basis: The cost basis is determined based on the selected calculation method.
*3 Quantity: Volume of the coin.
Transactions types on the cryptact (DeFi):
We are currently working on support for profit and loss calculations on DeFi transactions under Australian tax rules. At this time, while wallet addresses can be synced and transactions imported into cryptact, the results do not yet reflect Australian tax treatment. We will update the below help page and make an announcement once support is available. We apologize for the inconvenience.
DeFi: PNL calculation for each transaction type for Australia (Australia)
What is cryptact’s DeFi Feature? (Reference: How to use DeFi functions)
When you add a wallet address to cryptact, the transaction history within that wallet address is reflected in cryptact for the networks that cryptact supports. The system automatically identifies and reflects the transactions it can recognize, and automatically calculates profits and losses. However, transactions that cannot be automatically classified or non-DeFi deposit/withdrawal transactions are categorized as "Unclassified," requiring manual identification.