Independent Reserve Taxes: How to Generate Your Crypto Tax Report
Every trade, swap, and disposal through your Independent Reserve account creates a taxable event. CoinTracking connects directly to Independent Reserve via API, imports your complete transaction history, calculates your capital gains and income under Australian ATO rules or any other jurisdiction, and generates a tax report your accountant will accept — no spreadsheets required.
How to Import Your Independent Reserve Transactions into CoinTracking
Watch how to generate your Independent Reserve API key and connect it to CoinTracking to import your full transaction history and generate your crypto tax report.
Start Your Free Independent Reserve Import- Every crypto trade, swap, and disposal on Independent Reserve is a taxable event in most jurisdictions. In Australia, the ATO treats crypto as a CGT asset — disposals trigger capital gains tax, and a 50% discount applies if you held for more than 12 months.
- CoinTracking imports Independent Reserve transactions via API connection. Generate a read-only API key in your Independent Reserve account settings, then enter it in CoinTracking — your full history is imported automatically in 1–2 minutes.
- Transferring crypto between your own wallets or accounts is not a taxable event. Buying and holding crypto is not taxable until disposal.
- Tax compliance is your responsibility. Independent Reserve is AUSTRAC-registered and may share account and transaction data with Australian authorities as required by law. Under the OECD\'s CARF framework, participating exchanges will increasingly report to international tax authorities. All trades, disposals, and income from your Independent Reserve account must be declared by you. Failing to report crypto gains can result in penalties and back-tax assessments.
Independent Reserve and Your Tax Obligations
Independent Reserve is one of Australia's longest-running cryptocurrency exchanges, founded in Sydney in 2013. It is AUSTRAC-registered and serves retail and institutional traders across Australia, New Zealand, and Singapore. The exchange offers spot trading across major cryptocurrencies, OTC services, and a self-managed superannuation fund (SMSF) crypto service.
All transactions executed through your Independent Reserve account generate taxable events. Whether you trade spot markets, earn interest, or transfer assets, each event must be reported to your tax authority.
CoinTracking supports Independent Reserve via direct API connection:
- API import: connect your Independent Reserve account using a read-only API key — no CSV download required
- All spot trades, deposits, withdrawals, and interest payments are imported automatically
- CoinTracking applies Australian CGT rules (including the 12-month discount) when you select Australia as your tax jurisdiction
- Your API key is used in read-only mode — CoinTracking never requests withdrawal permissions
Crypto Tax Basics: What Independent Reserve Users Need to Know
Independent Reserve serves traders in Australia, New Zealand, Singapore, and beyond. While tax rules differ by country, the principles below apply to most jurisdictions — with a special focus on Australia, where the ATO has clear guidance on crypto taxation.
Every disposal is a taxable event
In Australia and most countries, selling, swapping, or otherwise disposing of cryptocurrency triggers a capital gains tax (CGT) event. The gain or loss equals the difference between your proceeds and your cost base (what you originally paid, including fees). For Australian residents, if you held the asset for more than 12 months before disposal, you are entitled to apply the 50% CGT discount to reduce the taxable gain.
ATO reporting requirements
The ATO requires Australian residents to report all crypto disposals in their annual tax return. Crypto received as staking rewards, interest, or airdrops is generally treated as ordinary income in the year received, valued in AUD at the time of receipt. The ATO has indicated it receives data from Australian exchanges and uses data-matching technology to identify unreported crypto income. Ensuring your declared transactions match your Independent Reserve history is essential.
Record-keeping requirements
Accurate record-keeping is essential. The ATO requires you to document every transaction with the date, asset type, quantity, cost base in AUD, proceeds in AUD, and applicable fees. Independent Reserve provides access to your full transaction history via its API, which CoinTracking imports automatically and converts into a structured tax report with a complete audit trail for every event.
Independent Reserve Taxes by Country
Crypto tax rules differ by market. Below are the key rates, deadlines, and filing forms for the countries where CoinTracking users trade most actively.
Australia
- CGT asset: Cryptocurrency is a CGT asset under the Income Tax Assessment Act 1997. Every disposal triggers a CGT event.
- 12-month discount: If you held the asset for more than 12 months before disposing, individuals can apply a 50% CGT discount to reduce the taxable gain.
- Crypto as income: Staking rewards, interest, and airdrops are treated as ordinary income at the AUD value on the date of receipt.
- Cost base method: FIFO or specific identification; the ATO requires consistent application.
- Authority: Australian Taxation Office (ATO)
- Form: myTax annual tax return (Schedule — Capital Gains)
New Zealand
- Income tax on crypto: New Zealand does not have a capital gains tax. Crypto profits are generally taxed as income if acquired with the purpose of disposal.
- Trading stock: Crypto held as trading stock is taxable as business income at marginal rates (up to 39%).
- Staking and mining: Taxed as income at the time of receipt in NZD.
- Authority: Inland Revenue Department (IRD)
- Form: IR3 individual income tax return
Germany
- Disposal tax: Personal income tax rate (up to 45%); gains are tax-free if held longer than 1 year (Haltefrist)
- Annual exemption: Gains up to €1,000/year are tax-free
- Cost basis: FIFO per wallet
- Authority: Finanzamt
- Forms: Anlage SO, Anlage KAP
United Kingdom
- Capital Gains Tax: 18% (basic rate) or 24% (higher rate) from October 2024
- Annual exempt amount: £3,000 (2024/25 onward)
- Cost basis: Section 104 pool (HMRC rules)
- Authority: HMRC
- Forms: Self Assessment SA100, SA108
Austria
- 27.5% capital gains tax: Since March 2022, crypto is taxed like shares — a flat 27.5% KESt applies to gains.
- Old coins grandfathered: Crypto acquired before 28 February 2021 is tax-free on disposal.
- Authority: Finanzamt Austria. Report via Einkommensteuererklärung (E1 / E1kv).
Switzerland
- Capital gains: Generally tax-free for private investors; professional traders are taxed as self-employed income
- Wealth tax: Crypto holdings subject to wealth tax at cantonal rates based on year-end market value
- Authority: Cantonal tax authority (varies by canton)
Spain
- Savings income (IRPF): 19% up to €6,000; 21% up to €50,000; 23% up to €200,000; 27% up to €300,000; 28% above
- Foreign crypto disclosure: Modelo 721 required if portfolio exceeds €50,000 abroad
- Authority: Agencia Tributaria (AEAT)
- Forms: Modelo 100 (IRPF), Modelo 721
Poland
- Flat rate: 19% on all crypto gains (no holding period exemption)
- Loss carryforward: Up to 5 years
- Cost basis: FIFO
- Authority: Urząd Skarbowy
- Form: PIT-38
France
- Flat 30% tax (PFU): Gains from crypto disposals are subject to the prélèvement forfaitaire unique (PFU) — 12.8% income tax + 17.2% social charges.
- No exemption for holding period: Unlike Germany, there is no tax-free threshold after 1 year.
- Authority: Direction générale des Finances publiques (DGFiP). Declare via Formulaire 2086.
Tax rules change frequently. This overview is for general information only and does not constitute tax advice. Consult a qualified advisor for your specific situation.
Are Independent Reserve Transactions Taxable?
In most jurisdictions, crypto is treated as an asset: disposing of it triggers capital gains tax. Use this as a starting reference — exact rules vary by country.
Taxable Events
- Selling crypto for AUD or other fiat
- Swapping or trading crypto for crypto
- Using crypto to pay for goods or services
- Staking rewards and interest received
Not Taxable
- Buying and holding crypto
- Transferring crypto between your own accounts
- Depositing AUD to Independent Reserve
- Receiving crypto as a personal gift
Tax treatment varies by country. CoinTracking applies the rules for your selected jurisdiction automatically.
How to Calculate Your Independent Reserve Taxes
Active traders on Independent Reserve can accumulate hundreds of taxable events across multiple years — especially if they trade multiple pairs, earn interest, or hold assets long enough to qualify for the ATO\'s 50% CGT discount. Calculating cost base, holding periods, and gains for each event manually is time-consuming and error-prone.
CoinTracking connects directly to Independent Reserve via API, imports your full trading history automatically, applies your chosen cost-basis method (FIFO, LIFO, HIFO, and others), and calculates gains and losses for every disposal. The result is a jurisdiction-specific tax report — including an ATO-compliant format for Australian users — ready to file or hand to your accountant.
Australian traders benefit from CoinTracking\'s built-in 12-month CGT discount logic, which identifies qualifying long-term holdings and applies the 50% discount automatically in the tax report.
How to Import Independent Reserve into CoinTracking
Three steps to import your Independent Reserve transactions and generate your tax report.
- 1
Log into CoinTracking and open Imports
After logging in, click the Import icon in the left navigation. This is where you connect all your exchanges, wallets and blockchains.
- 2
Search for Independent Reserve in the import list
Type "Independent Reserve" in the search field. CoinTracking will show the Independent Reserve import option — select it to proceed with your API connection.
- 3
Enter your Independent Reserve API Key and Secret
In your Independent Reserve account, navigate to API settings and generate a new key — do not enable withdrawal permissions. Copy your API Key and API Secret into CoinTracking and click "Connect & Import." Your full transaction history will be imported automatically.
"CoinTracking can handle just about any complex transaction you can throw at it and the automation is a real lifesaver. Of all the tax software tools we've reviewed, CoinTracking is the most detail-oriented and has more accuracy checks in place than the competition."
How to Create Your Independent Reserve
Tax Report with CoinTracking
Three steps from API connection to a tax report your accountant will accept.
Connect your Independent Reserve account
Generate a read-only API key in your Independent Reserve account settings. Enter the API Key and Secret in CoinTracking — your full trading history, deposits, withdrawals, and interest are imported automatically.
Review your transactions
Open Reports → Validate Transactions. CoinTracking flags missing cost basis entries, duplicate imports, and price gaps so your final report is accurate — especially important for multi-year trading histories.
Generate and export your tax report
Select your country and tax year. CoinTracking generates a report formatted for your jurisdiction — including ATO-compliant output for Australian users with the 12-month CGT discount applied automatically. Download as PDF or Excel.
No. Independent Reserve does not generate a ready-to-file tax report. It gives you access to your full transaction history via its API. CoinTracking connects directly to Independent Reserve using your API key and secret, imports all your trades, deposits, and withdrawals, and then calculates your capital gains, losses, and income. The result is a complete tax report ready for your accountant or tax authority — including ATO-compliant formats for Australian users.
Log in to your Independent Reserve account and navigate to the API settings page at portal.independentreserve.com/settings/api-keys. Click "generate" to create a new API key — make sure you do NOT check "allow this API to withdraw." Copy the API Key and API Secret, then open CoinTracking, go to the Import section, search for "Independent Reserve," and paste both values. CoinTracking will import your full transaction history automatically — typically in 1 to 2 minutes.
Yes. The Australian Taxation Office (ATO) treats cryptocurrency as a capital gains tax (CGT) asset. Every disposal — selling crypto for AUD, swapping one crypto for another, or using crypto to pay for goods — is a CGT event. Your capital gain or loss is the difference between the proceeds and your cost base. If you hold the asset for more than 12 months, you may be entitled to a 50% CGT discount. Staking and interest income are generally taxed as ordinary income in the year received.
Independent Reserve is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with Australian anti-money-laundering and counter-terrorism-financing laws. Under these obligations, Independent Reserve may share account and transaction data with Australian authorities as required by law. Additionally, under the OECD's Crypto-Asset Reporting Framework (CARF), exchanges in participating countries will increasingly share data with international tax authorities. You remain personally responsible for declaring your gains, losses, and income from Independent Reserve activity.
The ATO treats crypto as a CGT asset under the Income Tax Assessment Act. When you dispose of crypto, you calculate a capital gain or loss using the cost base method. Most individuals use FIFO (first in, first out) or the specific-identification method. If you held the crypto for more than 12 months before disposal, you can apply the 50% CGT discount. Crypto received as staking rewards, airdrops, or interest is treated as ordinary income at the time of receipt, valued in AUD. CoinTracking applies Australian CGT rules automatically when you select Australia as your tax jurisdiction.
Yes. CoinTracking imports your complete Independent Reserve history via API in a single step, regardless of how many years you have been trading. If you add new trades on Independent Reserve, you can refresh the import to sync the latest transactions. CoinTracking then recalculates your gains, losses, and income for any tax year you choose, using the cost-basis method that is correct for your jurisdiction — including Australian CGT rules with the 12-month discount.
Start Tracking Your Crypto Taxes Today
Experience why 2.2 million users trust CoinTracking — sign up today for a seven-day free trial!