While cryptocurrency market surges are seen in Australian crypto investors and traders, the Australian Tax Office(ATO) has imposed a few rules and regulations concerning the taxation of crypto exchanges.
Although the crypto gains are subject to Capital Gains Tax, the income is considered among the Income Tax Return, and the tax has been paid on the net gains received. Binocs have simplified this complex structure, a crypto tax liability calculator for all the transactions on the user’s profile.
Binocs users must sync their transactions on the Binocs app and leave the calculation on the system. However, Binocs is highly useful for all crypto investors and enthusiasts as it allows them to sync all their app transactions and get to know all their crypto tax liabilities.However, all crypto investors must keep an eye on to Australian crypto exchange to get all the new and recent updates about the newly launched crypto exchange app.
The capital Gains Tax rate in Australia is based on the total income generated in the financial year, including the gains, income gains in AUD, and capital. According to the nation’s rule, Binocs comprises all users’ needs. Along with syncing the transactions to holding crypto assets in the wallet, users would get a one-stop solution on Binocs integration through API or CSV formats