SMSF CGT Calculation in Koinly

Tax Questions
#1

I’m currently in the process of sorting out the tax reporting for my Self-Managed Super Fund (SMSF) here in Australia, and I’m considering using Koinly for this purpose.

As you might know, SMSFs in Australia have a unique tax structure when it comes to Capital Gains Tax (CGT). For assets held less than 12 months, the CGT is applied at a flat rate of 15%. However, if the asset is held for 12 months or more, we’re entitled to a one-third discount on the capital gain, which effectively reduces the tax rate to 10%.

My question is quite straightforward: Can Koinly correctly calculate the CGT for an SMSF under these conditions? Does your system support:

  • Applying a flat 15% CGT rate for assets sold within less than 12 months?

  • Automatically applying the one-third discount (thus calculating tax at 10%) for assets held for 12 months or more?

I’d really appreciate if you could confirm whether Koinly can handle these specifics or if there’s any additional setup or manual adjustments required on my part to ensure the tax calculations are accurate for an SMSF.

Thanks,
Mike

#2

Hi @mcored

We don’t specifically reflect the SMSF tax rates in our reports. Our reports provide a breakdown of your crypto transactions and capital gains, which you or your accountant can use to calculate the appropriate tax for your SMSF.

You can generate a Complete Tax report to see your gains divided into short-term and long-term and apply the tax rates accordingly.

Also, check out the blog post below:

https://koinly.io/blog/crypto-smsf/