Australian Taxation Office improves data program to detect crypto-related tax evaders

Odaily News The Australian Taxation Office (ATO) said it will keep a close eye on those who cash out their Crypto gains before the countrys fiscal year ends on June 30. Adam Saville-Brown, general manager of crypto tax reporting software Koinly, said: The ATO has been paying close attention to crypto in recent years, and this year is no exception. Michelle Legge, head of tax education at Koinly, said: The ATO has revised its crypto data matching program to collect data from 2014 to 2026 from all crypto exchanges operating legally in Australia. Whether you use Binance, Bitcoin Base, CoinSpot or other websites, the ATO can collect your data. The ATO expects the program to collect information on 1.2 million crypto investors each year, including names, addresses, emails, and even social media accounts and IP addresses. Adam said that most crypto users in Australia are aware of their tax filing obligations, but the program may catch a small number of remaining investors who fail to comply.