Recording and reporting.
WHAT EVENTS MAY BE TAXABLE
Selling for ordinary currency Exchanging one asset for another Using assets to purchase goods Receiving assets as income Receiving rewards from staking or similar
WHY EXCHANGING ASSETS SURPRISES PEOPLE
It may be treated as disposal and acquisition, even without ordinary currency involved.
WHAT RECORDS ARE REQUIRED
Date of every transaction Amount and asset Value at the time The other party or platform Fees paid
WHY VALUE AT THE TIME MATTERS
Gains are calculated from it, and reconstructing it later is difficult.
WHAT TOOLS PROVIDE
Aggregation across wallets and exchanges, with calculation of positions.
WHAT THEY REQUIRE
Complete data, including transfers between your own wallets.
WHY THOSE MATTER
Untracked transfers appear as acquisitions or disposals.
WHAT TO LABEL
Transfers between your own addresses, explicitly.
WHAT BUSINESSES MUST ADDRESS
How holdings are valued in accounts Treatment of assets received as payment Recognition of gains and losses
WHAT TO ESTABLISH
The applicable treatment in your jurisdiction, which varies.
WHAT TO NEVER ASSUME
That transactions are invisible to authorities.
WHAT TO OBTAIN
Advice from an accountant familiar with this area.
