Are there any exemptions or special considerations for gifting cryptocurrency in Australia?

6 answers

• Daniel DoyonJun 18, 2025 · a month ago
  When gifting cryptocurrency in Australia, there are a few exemptions and special considerations that you should be aware of. Firstly, if the gift is valued at less than $10,000, it is generally exempt from capital gains tax. However, if the gift exceeds this threshold, capital gains tax may apply. Additionally, it's important to keep in mind that gifting cryptocurrency may have implications for the recipient's tax obligations. They may be required to report the gift as income and pay tax on any capital gains when they dispose of the cryptocurrency. It's recommended to consult with a tax professional to ensure compliance with all relevant regulations.
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• Leija REPAug 12, 2023 · 2 years ago
  Gifting cryptocurrency in Australia can be a great way to share the benefits of digital assets with your loved ones. However, it's important to consider the tax implications. While there are exemptions for gifts valued under $10,000, larger gifts may be subject to capital gains tax. It's also worth noting that the recipient of the gift may have to report the value of the cryptocurrency as income and pay tax accordingly. To ensure a smooth gifting process, it's advisable to consult with a tax advisor who can provide guidance on the specific exemptions and considerations that apply to your situation.
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• Rizaldi.parebba IcalJun 17, 2023 · 2 years ago
  As a representative of BYDFi, I can provide some insights into gifting cryptocurrency in Australia. When gifting cryptocurrency, it's crucial to consider the tax implications. While there are exemptions for gifts valued under $10,000, larger gifts may be subject to capital gains tax. It's also important to note that the recipient of the gift may have to report the value of the cryptocurrency as income and pay tax accordingly. To ensure compliance with the regulations, it's recommended to consult with a tax professional who can provide personalized advice based on your specific circumstances. Remember, gifting cryptocurrency can be a thoughtful gesture, but it's essential to understand the legal and tax implications involved.
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• joanvwclarksonySep 13, 2021 · 4 years ago
  Gifting cryptocurrency in Australia comes with certain exemptions and special considerations. If the gift is valued at less than $10,000, it is generally exempt from capital gains tax. However, if the gift exceeds this threshold, capital gains tax may apply. It's important to keep track of the cost basis of the cryptocurrency at the time of gifting, as this will determine the capital gains tax liability for the recipient when they dispose of the cryptocurrency. It's advisable to consult with a tax professional to ensure compliance with all relevant regulations and to understand the specific exemptions and considerations that apply to your situation.
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• jb1zFeb 03, 2021 · 4 years ago
  When it comes to gifting cryptocurrency in Australia, there are a few exemptions and special considerations to keep in mind. If the gift is valued at less than $10,000, it is generally exempt from capital gains tax. However, if the gift exceeds this threshold, capital gains tax may apply. Additionally, the recipient of the gift may have to report the value of the cryptocurrency as income and pay tax on any capital gains when they dispose of it. It's important to consult with a tax professional to understand the specific exemptions and considerations that apply to your situation and ensure compliance with all relevant regulations.
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• Tiago Pereira CardosoNov 20, 2020 · 5 years ago
  Gifting cryptocurrency in Australia can have tax implications that need to be considered. If the gift is valued at less than $10,000, it is generally exempt from capital gains tax. However, if the gift exceeds this threshold, capital gains tax may apply. It's also important to note that the recipient of the gift may have to report the value of the cryptocurrency as income and pay tax accordingly. To ensure compliance with the regulations and understand the specific exemptions and considerations, it's recommended to seek advice from a tax professional who specializes in cryptocurrency transactions.
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