Any data reported in the tax statement is strictly for informational purposes only.
It is not intended as a tax declaration or as a substitute for legal advice.
We strongly advise you to verify the tax statement with your tax advisor.
eToro does not provide tax advice and this page is for informational purposes only.
On this page, you will find information about the eToro Tax Report, which is a document generated based on your previous annual trading activity on the eToro platform and is structured in accordance with local tax guidelines.
Facts
- Tax Year: July 1st–June 30th
- Reporting Currency: AUD-Australian dollars
- Filing Dates
- The deadline for filing tax returns with the tax authorities is October 31st.
- There may be an extension for filing tax returns if the taxpayer files the tax declaration himself.
- If the taxpayer would like to file the tax declaration later than October 31st, he or she can apply for an extension of the deadline directly from the Australian tax authorities.
- If the extension is granted, the new deadline is around March of the following year.
- If a registered tax agent is preparing the tax return, the due date may be after October 31st.
Reporting Languages:
- EN
Consumption Logic: Optimisation
Taxable Basis
- Income: Dividends, interest, other income from CFD-like instruments
- Capital Gains: Capital gains from any assets other than CFDs
External Data
- https://www.ato.gov.au/rates/foreign-exchange-rates/ the daily exchange rates provided by ato.gov.au.
Tax Forms
- Tax-return-for-individuals-2022.pdf (ato.gov.au)
- Tax-return-for-individuals-(supplement)-2022.pdf (ato.gov.au)
Calculation of Capital Gains / Differences in eToro Account Statement
You may see variations between your eToro Account Statement and your eToro Tax Report. These variations may be derived from the following differences in the way in which the Account Statement and the Tax Report are calculated.
- In order to calculate the financials on the Tax Report, the values of the positions represented are converted from USD to the local currency (AUD) at the time of opening and closingthe position. This may cause a deviation between the Account Statement and the Tax Report.
- The cost basis for calculating your capital gains — The Account Statement takes the closing of your positions based on your selection (specific identification method) into consideration, while the Tax Report takes the rules as required by local Australian law into consideration — optimisation logic is used for the calculation of capital gains/losses i.e., disposal of the lots which yield the lowest capital gain considering the holding period length to the different methods of calculating capital gain.
eToro does not provide tax advice. For more information on the Australian tax rules applied to your Tax Report, please contact your local tax advisor.
Background
– The customer opens 3 positions from 2018–2020 acquiring 25 shares.
– The customer closes all his positions in 2020. The asset balance at the end of 2020 is zero.
See the chart below with the history of the open and closed positions
AU Tax Report logic
Australia uses optimisation logic for the calculation of capital gains/losses i.e., disposal of the lots which yield the lowest capital gain, considering the holding period length to differentmethods of calculating capital gain.
Account Statement Flow & Capital Gains
Tax Report Flow & Capital Gains
