Koinly tax software analyses your crypto trades and generates an ATO-ready tax report.
Koinly is best for investors looking to streamline their crypto tax reporting. By syncing and importing your data into Koinly, you can see how much you've invested in crypto, get a summary of your crypto income and view your realised and unrealised capital gains.
What sets Koinly apart is the ability to test-drive the software before paying. You can connect all of your exchange and wallet accounts and preview your capital gains for free.
However, you must pay if you want to download a tax report or generate ATO tax reports. Plans start at $69 for 100 transactions and go up to $399 for 10,000.
Koinly is an Australian service that integrates seamlessly with over 400 exchanges, 100+ wallets and more than 170 different blockchains.
You can generate a tax report in as little as 20 minutes which is made for the ATO (MyTax) or your local tax agent.
You can even track your DeFi trades, staking and NFTs on Ethereum and other popular blockchains.
Koinly supports more than 500 exchanges and wallets, including most local Australian platforms:
If Koinly doesn't support your exchange or wallet, you can import your transaction history as a CSV or EXL file, or manually add your transactions.
Koinly can track an unlimited amount of transactions, but pricing is broken up into 4 paid tiers which will depend on how many transactions you've made.
Keep in mind the free plan allows you to view your transactions and access many of the premium features, but you won't be able to export a tax report.
| Plan | Annual cost | Transaction limit | Features |
|---|---|---|---|
| Basic (no tax report) | Free | 10,000 |
|
| Newbie | $69 | 100 | Everything in the free plan, plus:
|
| Hodler | $149 | 1,000 | Same as the Newbie plan |
| Trader | $299 | 3,000 | Same as the Newbie plan |
| Pro | $399 | 10,000+ | Same as the Newbie plan, plus:
|
Users can upgrade to a paid plan with a credit/debit card or with supported cryptocurrencies – BTC, DAI, ETH, USDC.
Anybody can sign up for a Koinly account in 5 steps:
Provide your name and email address to get started. To set up auto-sync, provide the read-only APY key from your exchange, or link a blockchain wallet address. No confidential details like passwords are required.
It's important to keep track of all transactions, as the ATO encourages crypto investors to keep a record of the past 5 financial years' worth of transactions. The ATO recently recommended the use of a reputable Australian crypto tax calculator for proper record-keeping. Koinly is a crypto tax calculator that caters to investors and traders at all levels, with over 700 integrations across the top wallets, exchanges and blockchains allowing you to quickly generate a tax report that is built to comply with ATO guidance.
Danny Talwar
Head of tax, Koinly
Yes. Koinly discloses security measures and best practices on its site that include:
There have been no reported security breaches at Koinly as of June 2023.
Koinly is highly rated on Trustpilot, earning a 4.8 out of 5 across more than 1,200 reviews. Customers rave that the software is easy to use and up-to-date with the latest in crypto developments. Many users also compliment its helpful customer service.
Some users complain about inaccuracies and errors that require manual adjustments to fix, while others cite incompatibility issues with certain exchanges. For example, 1 customer reported difficulty in getting accurate reporting for DeFi exchanges like Maker and Compound.
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Kimberly Finder
Writer
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