accounting for the crypto economy.
Tax On Chain is a specialist crypto accounting firm providing crypto tax services to both private and business clients who are active in the cryptocurrency and Web3 space. Whether its DeFi, DAOs, NFTs or anything in between, the specialist crypto accountants at Tax On Chain speak your language and will work with you to sort out your crypto tax and accounting requirements.
Our firm understands the tax and accounting complexities that arise when utilising blockchain technology, allowing us to deliver crypto-specific tax advice and services that very few accountants can.
tax is our business, crypto is our passion.
Our team of Chartered Accountants have a professional foundation in tax and a personal passion for crypto, uniquely positioning them to provide accounting and tax advice to investors, DeFi participants and crypto-related businesses based on the personal experience they have developed through actively participating in the crypto ecosystem themselves.
Tax On Chain takes the headache out of meeting your crypto tax compliance obligations and will work with you to deliver tax-effective strategies for your crypto activities, allowing you to focus your time on creating wealth and contributing to the decentralised future.
our clients & services
As cryptocurrency tax agents who are at the forefront of the latest crypto innovation, we are positioned to create efficiencies for our clients by already having an intricate understanding of the numerous protocols our clients are interacting with and the wealth creation strategies they adopt. Our relationships with our clients go beyond the services we provide, we aim to develop a network of likeminded individuals where we can have enriching conversations and discuss the innovations occurring on-chain.
traditional market participants
As a passive investor we can assist you in understanding and calculating your cryptocurrency capital gains tax obligations and work with you to take advantage of tax minimisation strategies, allowing you to plan appropriately for the future so you can to continue to grow your wealth.
If you are regularly trading in spot/futures markets or flipping tokens on decentralised exchanges, you may be deemed a trader for tax purposes and will be subject to slightly different tax rules. Our crypto accountants assess your activities to ensure their income is classified and calculated correctly.
Businesses operating in the crypto and blockchain space or accepting cryptocurrency as payments are often misunderstood by traditional accountants. We offer a full suite of bookkeeping, accounting and management reporting services work, ensuring businesses are meeting their reporting and compliance obligations.
decentralised finance (DeFi)
lending & borrowing
We assist DeFi participants who are borrowing and lending on decentralised money markets navigate the complex DeFi tax implications that can arise when transacting on these protocols.
We assist liquidity providers in determining what transactions constitute taxable events and how to calculate their assessable income.
DeFi protocols have given rise to unprecedented opportunity to generate yields that far exceed what is possible in traditional finance. Complex yield farming strategies are not only stressful to manage but can be a nightmare when it comes to record keeping. We assist yield farmers in maintaining appropriate records and determining their crypto tax obligations in Australia.
The Australian crypto tax implications of staking your crypto to a network or protocol can be complex and confusing. We assess our client’s staking activities to help them understand their tax obligations.
Airdrops are commonly used by new protocols to incentivise users to use their product and the tax treatment of these airdrops are commonly misunderstood. As crypto accountants, we understand the crypto tax obligations that arise as a result of receiving airdrops.
decentralised autonomous organisations (DAOs)
DAOs are a novel way to organise both financial and human capital with some of the largest existing DAOs controlling treasuries worth billions of dollars. We provide financial accounting and management reporting services to DAOs, enabling them to maintain proper financial records of their treasuries and operating activities. Accurate financial statements are critical in providing token holders and other stakeholders with confidence in a DAOs financial management and necessary to appease potential investors.
Decentralised games and virtual worlds have given rise to innovative play-to-earn models and unique methods for gamers to earn an income. We work with gamers to assess whether their activities are taxable and how to calculate their cryptocurrency taxable income.
NFTs and digital collectibles are assets that are commonly overlooked by investors but may still be taxable depending on the circumstances in which they were acquired. We assist our clients in determining the NFT tax implications of these unique crypto investments.
virtual real estate
There has been an explosion in virtual real estate transactions in recent times as the Metaverse gathers momentum and innovative companies establish virtual headquarters. We assist our clients in understanding the crypto tax implications of buying, selling and renting virtual property.
Whether you’re mining your favourite token or have established a complex multi-rig Bitcoin mining operation, we assist our clients in assessing their taxable revenue, allowable deductions, eligibility to access certain tax concessions and how to appropriately assess depreciation on the hardware used in their operations.
Innovations in proof-of-stake have significantly reduced the capital intensity of validating blockchains, allowing more users to participate in securing these networks. Decentralised oracle networks also serve as key infrastructure in securing data transmission and allow smart contracts to execute effectively. We assist node operators in assessing their taxable revenue, allowable deductions, eligibility to access certain tax concessions and how to appropriately assess depreciation on the hardware used in their operations.
Auditing the activities of businesses and crypto self-managed super funds that have been participating in the crypto ecosystem can be difficult, especially if you have a limited understanding of how these networks operate. As Australian crypto tax professionals, we work with auditors to assist them to understand and verify the activities of their clients.
accountants & lawyers
Crypto is a niche that many professionals struggle to advise effectively on as their knowledge and understanding of how these networks operate is limited. As specialist crypto accountants, we provide bespoke services to other professional firms, enabling them to appropriately service their own clients active in the crypto ecosystem.
professional & regulatory bodies
Tax On Chain works with professional and government bodies to assist in the development of appropriate regulations and Australian crypto tax policies to ensure appropriate and fair outcomes for all stakeholders. Our team of crypto accountants have previously taken part in panel discussions organised by Chartered Accountants Australia and New Zealand (CAANZ), and Blockchain Australia at Blockchain Week 2022.
adhering to the highest ethical standards
Blockchain Australia Member
Tax On Chain is a proud member of Blockchain Australia, the peak industry body that represents the crypto and blockchain community in Australia.
CA ANZ Member Firm
Tax On Chain is a public practice registered with Chartered Accountants Australia & New Zealand, ensuring our cryptocurrency tax services in Australia are world-class and upheld to the highest ethical standards.
Registered Tax Agent
Tax On Chain is a Tax Agent registered with the Tax Practitioners Board.