BTC Markets Taxes: How to Generate Your Crypto Tax Report
BTC Markets does not create a tax report for you. Every crypto trade and disposal is a potential Capital Gains Tax event you are responsible for declaring to the ATO. CoinTracking connects to BTC Markets via API, imports your complete transaction history, calculates your CGT, and generates a tax report ready for your accountant or tax return.
How to File Your Crypto Taxes in Australia with CoinTracking
Watch how to import your BTC Markets transaction history into CoinTracking and generate a compliant capital gains report for the ATO.
Start Your Free BTC Markets Import- Every crypto trade on BTC Markets is a Capital Gains Tax event in Australia. The ATO treats cryptocurrency as property — buying, holding and transferring between your own wallets are not taxable events.
- BTC Markets supports API import into CoinTracking. Generate Read Only API keys at btcmarkets.net/account/apikey and connect directly — no CSV export required.
- A 50% CGT discount applies to assets held for longer than 12 months. CoinTracking tracks holding periods automatically and applies the discount where eligible.
- Australia — not EU-regulated: BTC Markets is an AUSTRAC-registered Australian exchange and is not subject to EU DAC8 reporting rules. However, the ATO actively data-matches with Australian crypto exchanges. You are responsible for accurate self-reporting of all gains.
BTC Markets and Your Tax Obligations
BTC Markets is Australia's leading cryptocurrency exchange, founded in 2013 and headquartered in Melbourne. The platform is registered with AUSTRAC and holds an Australian Financial Services Licence (AFSL), making it one of the most regulated crypto exchanges in the Asia-Pacific region.
As an Australian tax resident using BTC Markets, you are required to report Capital Gains Tax on every disposal of cryptocurrency. The ATO's data-matching programme means your trading history is increasingly visible to the tax authority.
CoinTracking supports BTC Markets via direct API connection:
- BTC Markets API: connect using Read Only API keys generated at btcmarkets.net/account/apikey
- All spot trades, deposits and withdrawals are imported automatically
- CoinTracking syncs your BTC Markets history and keeps it up to date
Crypto Tax Basics: What BTC Markets Users Need to Know
The ATO has provided detailed guidance on the tax treatment of cryptocurrency since 2014. These principles apply broadly to BTC Markets users — always confirm the specifics with a registered tax agent or the ATO.
Cryptocurrency is a CGT asset
The ATO classifies cryptocurrency as property, not currency. Disposing of crypto — selling for AUD, swapping for another coin, or using it to purchase goods — triggers a Capital Gains Tax event. The gain or loss is the difference between the proceeds and your cost base.
The 12-month CGT discount
If you are an Australian individual or trust and you held the cryptocurrency for more than 12 months before disposal, you may be entitled to a 50% CGT discount. This means only half the capital gain is included in your assessable income. Companies are not eligible for the discount. CoinTracking tracks each acquisition date automatically and applies the discount where it qualifies.
Records are your responsibility
BTC Markets does not issue a formal tax statement or capital gains summary. You are required to keep records of every transaction — date, value in AUD at the time of acquisition and disposal, and the purpose of the transaction. Failure to keep records can result in the ATO disallowing cost base deductions. CoinTracking stores a complete, timestamped audit trail of every BTC Markets transaction you import.
Crypto Tax Rules for BTC Markets Users
BTC Markets is primarily used by Australian residents, but traders in New Zealand, the US, the UK and beyond also use the platform. Here are the key tax rules for the most common jurisdictions.
Australia
- CGT rate: Capital gains are included in assessable income and taxed at your marginal income tax rate (up to 45% + 2% Medicare Levy)
- 12-month discount: 50% CGT discount for assets held more than 12 months (individuals and trusts)
- Capital losses: Can be offset against capital gains; net losses carried forward indefinitely
- Cost base methods: FIFO, LIFO, or specific identification — all ATO-accepted
- Authority: Australian Tax Office (ATO)
- Forms: myTax — Capital gains or losses section; Schedule 3 (CGT)
New Zealand
- No general capital gains tax: New Zealand does not have a broad CGT, but crypto acquired with the intention to sell is taxable as ordinary income
- Bright-line test: Does not apply to crypto — only residential property
- Taxable income rate: Marginal income tax rates (10.5%–39%)
- Staking / mining: Treated as assessable income when received
- Authority: Inland Revenue Department (IRD)
- Forms: IR3 Individual income tax return
United States
- Short-term gains (held under 1 year): Ordinary income tax (10%–37%)
- Long-term gains (held 1 year or longer): 0%, 15%, or 20% depending on income
- Staking rewards: Taxable as ordinary income when received
- Cost basis: FIFO (default); specific identification permitted
- Authority: IRS
- Forms: Form 8949, Schedule D
United Kingdom
- Capital Gains Tax: 18% (basic rate) or 24% (higher rate) from October 2024
- Annual exempt amount: £3,000 (2024/25 onward)
- Staking income: Income Tax at marginal rate
- Cost basis: Section 104 pool (HMRC rules)
- Authority: HMRC
- Forms: Self Assessment SA100, SA108
Canada
- Capital gains inclusion rate: 50% of capital gains are included in taxable income (individuals below $250,000/year); 66.7% above
- Business income: Full gains taxable as business income if trading is frequent
- Staking / mining: Treated as business or other income
- Cost basis: Adjusted Cost Base (ACB)
- Authority: Canada Revenue Agency (CRA)
- Forms: Schedule 3 (Capital Gains)
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
- Staking income: Taxed as other income (Sonstige Einkünfte)
- Cost basis: FIFO
- Authority: Finanzamt
- Forms: Anlage SO, Anlage KAP
Singapore
- No capital gains tax: Singapore does not impose CGT on the disposal of cryptocurrencies by individuals
- Business income: Profits from frequent crypto trading may be treated as business income and taxed at corporate/personal income rates
- GST on crypto: Digital payment tokens are generally GST-exempt
- Authority: Inland Revenue Authority of Singapore (IRAS)
- Forms: Form B or Form C (if treated as business income)
Japan
- Miscellaneous income (Zassho): Crypto gains are taxed as miscellaneous income at progressive rates up to 55% (including local taxes)
- No loss offset against other income: Crypto losses cannot be offset against employment income
- No loss carryforward: Capital losses from crypto cannot be carried forward to future years
- Cost basis: Total Average Method (Sohekin-ho)
- Authority: National Tax Agency (NTA)
- Forms: Final tax return (Kakutei Shinkoku)
South Korea
- Flat rate on virtual asset income: 20% (+ 2% local income tax) on gains exceeding KRW 2.5 million per year
- Implementation timeline: Tax enforcement has been repeatedly delayed; verify current status with a local advisor
- Staking / airdrops: Classified as other income
- Authority: National Tax Service (NTS)
- Forms: Global income tax return
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 BTC Markets Transactions Taxable?
Under Australian tax law, cryptocurrency is a CGT asset. Here is a quick reference for the most common BTC Markets transaction types. Rules vary by country — confirm with your local tax authority.
Taxable Events
- Selling crypto for AUD on BTC Markets
- Swapping one cryptocurrency for another
- Using crypto to pay for goods or services
- Receiving staking or referral rewards
Not Taxable
- Buying and holding cryptocurrency
- Transferring crypto between your own wallets
- Depositing AUD to BTC Markets
- Receiving crypto as a personal gift (ATO rules apply)
Tax treatment varies by jurisdiction. CoinTracking applies the rules for your selected country automatically.
How to Calculate Your BTC Markets Taxes
BTC Markets provides transaction history through its API, but calculating your Capital Gains Tax requires pairing each disposal with the correct acquisition — accounting for the purchase price, exchange fees and the ATO's cost base rules.
For assets held longer than 12 months, only 50% of the gain is taxable. For assets held under 12 months, the full gain is added to your assessable income. CoinTracking automates all of this and applies the 50% CGT discount where eligible.
CoinTracking produces a report your registered tax agent or myTax return will accept — covering every BTC Markets trade, fee and reward in your full history.
How to Import BTC Markets into CoinTracking
Three steps to connect your BTC Markets account via API and generate your capital gains 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 BTC Markets in the import list
Type "BTC Markets" in the search field. CoinTracking will show the BTC Markets exchange card ready to connect.
- 3
Enter your BTC Markets API Key and Secret
Log into BTC Markets, go to Account → API Keys (btcmarkets.net/account/apikey), create Read Only keys, and paste your API Key and Secret into CoinTracking to connect 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 BTC Markets
Tax Report with CoinTracking
Three steps from API connection to a capital gains report your tax agent will accept.
Connect your BTC Markets account via API
Log into BTC Markets, go to Account → API Keys and create Read Only keys. Enter your API Key and Secret in CoinTracking to import your full trade history automatically.
Review your transactions
Open Reports → Validate Transactions. CoinTracking flags missing cost base entries, duplicate imports and price gaps so your final CGT report is accurate.
Generate and export your CGT report
Select Australia and the relevant income year. CoinTracking generates a Capital Gains Tax report applying the 50% discount where eligible — export as PDF or Excel for your tax agent.
BTC Markets does not generate a tax report for users. The exchange is AUSTRAC-regulated and provides transaction history, but converting that into a compliant ATO tax report is your responsibility. CoinTracking connects to BTC Markets via API, imports your full transaction history automatically, and generates a complete capital gains report for the ATO.
Log into BTC Markets, go to Account → API Keys (or visit btcmarkets.net/account/apikey), and create a Read Only API key. Copy the API Key and API Secret, then enter them in CoinTracking under Imports → BTC Markets → Connect automatically. CoinTracking will sync your full trade history automatically.
Yes. The Australian Tax Office (ATO) treats cryptocurrency as property, not currency. Every disposal — selling crypto for AUD, swapping one crypto for another, or using crypto to pay for goods — is a taxable event subject to Capital Gains Tax (CGT). Gains are included in your assessable income, with a 50% CGT discount available for assets held longer than 12 months.
The ATO allows several cost basis methods including FIFO (first-in, first-out), LIFO, and specific identification. Most Australian crypto investors use FIFO or the 12-month discount method. CoinTracking supports all ATO-recognised methods and lets you compare outcomes to legally minimise your tax liability.
BTC Markets is registered with AUSTRAC (the Australian financial intelligence agency) and complies with Australian anti-money-laundering laws. The ATO has received data from Australian crypto exchanges including BTC Markets as part of its data-matching programme. You should assume the ATO has visibility of your trading activity and report accurately.
Yes. Capital losses from disposing of cryptocurrency on BTC Markets can be offset against capital gains in the same income year. If your losses exceed gains, the net capital loss can be carried forward to future years — but cannot be offset against ordinary income. CoinTracking calculates and tracks both gains and losses across your full BTC Markets history.
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