ATO data matching and your MetaMask wallet
The ATO's published crypto assets data-matching protocol obtains data from Australian cryptocurrency designated service providers. The protocol does not identify MetaMask individually or state that self-custody on-chain activity is collected through that program.
MetaMask does not send tax documents to the ATO. Keep complete exchange exports and MetaMask records, reconcile transfers between them, and report all relevant transactions.
FIFO and the 50% CGT discount
The calculator uses FIFO as a disclosed software assumption across your MetaMask history. Under FIFO, when you dispose of a token, the oldest units are treated as sold first. This is a software assumption, not a universal ATO rule. The released report requires explicit FIFO confirmation and verifies parcel support, capital losses, entity, residency and discount eligibility before checkout.
In the released resident-individual scope, a 50% CGT discount may apply to eligible gains on assets held for more than 12 months before disposal. For a MetaMask token swap, the holding period runs from the date you acquired the tokens being disposed of. DYOR.tax tracks acquisition dates for all wallet tokens including those received as DeFi rewards, airdrops, and from exchange imports.
ATO guidance on DeFi and on-chain activity
The ATO has issued guidance covering crypto-to-crypto swaps, wrapping and unwrapping tokens, and DeFi returns. Key positions relevant to MetaMask users:
- Token swaps: The ATO generally treats token swaps as CGT events. Disposing of one token and receiving another triggers a CGT calculation.
- Wrapping: Converting ETH to WETH, or DAI to cDAI, may be treated as a CGT event by the ATO - the guidance treats wrapping as a disposal and reacquisition in most circumstances.
- DeFi returns: Income from DeFi lending, liquidity provision, and similar activities is generally treated as assessable income, though the characterization depends on the specific facts.
- Staking rewards: Generally treated as assessable income at fair market value in AUD when received.
Staking and DeFi income for Australian taxpayers
Staking rewards and DeFi income received into your MetaMask wallet are generally treated as assessable income at fair market value in AUD on the date received. The ATO has confirmed this position for staking and similar activities.
When you later dispose of tokens that were originally received as income, any gain or loss is a separate CGT event. If those tokens were held for more than 12 months from the date received before disposal, the 50% CGT discount may apply to the gain on that disposal. The cost base for those tokens is the AUD fair market value on the day they were received as income.
Related calculators and guides
All countries: MetaMask Tax Calculator
Australia country page: Australia Crypto Tax Calculator
Other MetaMask countries:
MetaMask USA ·
MetaMask UK ·
MetaMask NZ
DeFi guides: Uniswap Tax Calculator · Aave Tax Calculator · Crypto Staking Taxes · Airdrop Taxes