I have a question regarding capital gains and Australian tax law regarding crypto.
If I trade between two cryptocurrencies, do I trigger a capital gains event if the trade was facilitated by an unrealised gain?
E.g. I buy an altcoin and it has risen by 500%. I decide to secure my unrealised profit by converting half of my altcoin balance into Bitcoin.
I’m assuming only when the crypto balance is converted back to Australian currency, that a capital gains event is then triggered. Otherwise, this whole process will become quite complicated at tax time.
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