How to Amend a Prior Year Crypto Tax Return in Australia

You can amend your tax return

If you didn't report crypto gains, income or losses in a prior year, you can request an amendment through myTax, your tax agent or a voluntary disclosure. The sooner you correct it, the lower the penalties.

Time limits

Individual taxpayers generally have two years from the date of the original notice of assessment to amend a return. Some exceptions apply for fraud or evasion.

What you'll need

• A complete history of the missing crypto transactions for the year.
• AUD market values at the time of each event.
• Records of fees and exchange costs.

Penalties and interest

The ATO may apply shortfall interest and penalties, but these are often reduced if you make a voluntary disclosure before they contact you. A registered tax agent or accountant can help prepare a disclosure and negotiate the best outcome.

Get it right

Generate an ATO-ready report with Koinly or Syla, or work with a crypto tax accountant to prepare amendments across multiple years.

General information only, current as a guide to ATO rules — not personal tax advice. Crypto tax depends on your circumstances. Verify with the ATO or a registered tax agent before you lodge.