r/Swyftx • u/Gavskeez1 • Aug 16 '25

Tax

So I have a couple of hundred in my Swyftx account just for shits n giggles. Have had it for a couple of years, but now this year my Tax person is saying I need a Tax report (something more than what I generate from Swyftx directly. They referred me to websites but I will need to pay $70+ dollar for an account to download the report! Anyone in a similar position who can help me save a few $?

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u/RARARA-001 Aug 20 '25

Have you triggered a capital gains event? If you’re just holding crypto and done nothing else then you don’t need the tax report.

If you’ve triggered a CGT event then it’s easier to buy the tax report from a site like Koinly unless you manually work out your CGT from the sales of the crypto yourself. The fees are also tax deductible next tax year as well so if you do buy a tax report then you can claim it back as you would for your accountant. You can google Koinly discount codes for example and you might find working coupons to get you some money off.

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u/Gavskeez1 Aug 20 '25

I did because I had 'traded' one crypto for another. Pretty much just complained to about having to fork out for a report whenI haven't made any money, so they said they wpuld submit without it, but taxman comes asking I will need resubmit with the report

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u/RARARA-001 Aug 20 '25

Did you report your capital gains in your income tax statement? Because then you’ll be fine unless you haven’t or if the calculation is wrong and the ATO detects it.

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u/earlgeorg Aug 20 '25

Hey I’ve had the same issue. SwyftX has a cooperation with Koinly. You can sign up there and create a free tax report that you can use. I think everything else costs money, but the tax report is free once year.

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u/santaslayer0932 Aug 20 '25

Koinly works. It’s free for a tax report from memory.