Crypto gift tax in Australia: a disposal for the giver, a new cost base for the receiver
Many people assume gifting crypto to a friend or family member is tax-free. Under Australian tax law, gifting crypto is treated as a disposal event for the giver, which can trigger a capital gain or loss based on the market value at the time of the gift.
How the ATO treats crypto gifts
When you gift crypto, you are treated as having disposed of it at its market value on the day of the gift. This means a CGT event occurs for the giver regardless of whether any money changed hands. Australia has no general gift tax, but CGT still applies to the disposal. For the receiver, the market value at the time of receipt becomes their cost base for future disposals.
Worked example
You gift 0.1 BTC to a family member when the market value is AUD 5,000. Your original cost base for that BTC was AUD 2,000. You have a capital gain of AUD 3,000 (AUD 5,000 proceeds minus AUD 2,000 cost base). If you held that BTC for more than 12 months, you may apply the 50% CGT discount, reducing the taxable gain to AUD 1,500. The family member now has a cost base of AUD 5,000 for future tax calculations.
Common pitfalls
The most common misconception is that gifts to family members are exempt from CGT. They are not. Gifting to a spouse or child is still a taxable disposal at market value. Another pitfall is failing to document the market value of the crypto on the date of the gift — without this record, valuing the disposal accurately at tax time becomes very difficult.
Using this estimator for gifts
To model a crypto gift in this estimator, enter the transaction as a sell event at the market value on the date of the gift. This captures the disposal correctly for the giver's CGT calculation. The receiver would start a separate record with their cost base set at the gifted market value.
Quick single-transaction estimate
Enter a single buy-and-sell scenario to see your estimated CGT impact.
Frequently asked questions
Is gifting crypto taxable in Australia?
Yes. Gifting crypto is treated as a disposal for the giver, triggering a CGT event at the market value on the date of the gift. There is no gift tax exemption for CGT assets in Australia.
What is the receiver's cost base for gifted crypto?
The receiver's cost base is generally the market value of the crypto at the time they received the gift. This becomes the starting point for any future capital gain or loss when they dispose of it.
Related guides
Tax Accuracy & Sources
General information about crypto tax in Australia for individual investors. Not tax advice.