Australian Tax Officer believes that crypto investors can't keep their records
In a recent statement from the Australian Tax Officer or ATO, he said that authorities could not believe that crypto investors are great at keeping a record of the taxes they owe to the government from owning cryptocurrencies, despite trying their hardest.
Australian Tax Officer spoke on crypto taxation
According to the Australian Tax Officer, Chris Jordan, there are many cryptocurrency investors who are not capable of realizing the importance of reporting their taxes. Jordan spoke at the 14th International ATAX Conference on Tax Administration held on Nov 23.The ATO, Chris Jordan, believes that there are plenty of investors who are still unaware of the fact that these blockchain-based digital currencies are assets and not currencies, and hence, citizens need to pay taxes on them.
The main concern for authorities is that citizens "believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars."
"In a sector that is growing rapidly with new investors, we can't rely on taxpayers knowing they need to keep records of their investment income and capital gains and disclose it on their tax returns," said Jordan.
Government "nudging" people in the right direction
As per the statement of the Australian Tax Officer, the government is trying to "nudge" people to do what is right and report what they have earned from owning cryptocurrencies by taking steps like pre-filling data on returns.Furthermore, Jordan mentioned that the monetary authorities have taken the help of cryptocurrency demand-side platforms (DSPs), share registries, and brokers to source out information and expand their data matching protocols.
As per the Australian Tax Officer, the government is still trying to figure out better ways to collect, share, and manage the data of cryptocurrency investors. But he believes that they're just "scratching the surface."
Jordan also noted that nearly 94% of individuals and 87% of small businesses file taxes and "do the right thing." Australian authorities have a rather optimistic stance on cryptocurrencies.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
