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The fair market value is the amount someone would pay for the cryptocurrency on the date of receipt. How is crypto tax calculated in australia? How are crypto taxes calculated? (this is largely based on the tax regulations by the irs in the us). The laws and regulations, you may want to check out this crypto tax guide.
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When your crypto gains are taxed, your cryptocurrency tax rate will be either your income tax rate or lower capital gains rates, depending on how long you held the crypto.
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The platform imports your transaction data using integrations with over 25 major exchanges to calculate your gains and provides export documents for you to file with your taxes. I am paraphrasing precisely what the tax law says here: (this is largely based on the tax regulations by the irs in the us). Crypto tax calculator is one of them, designed specifically for hmrc tax laws. Your holding period dictates whether you pay income tax rates or capital gains tax rates.
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A 'gift' transaction is used if you have received cryptocurrency as a gift.
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