Goods and Services Tax (GST) for Australian residents may apply to some of CoinJar's services.
As of July 2017, the Australian government requires the collection of GST on international sales of digital products and services. Although converting digital currencies by transferring funds within CoinJar (https://app.coinjar.com/) does not incur GST, the fees incurred by completing trades on CoinJar Exchange (https://exchange.coinjar.com/) do incur additional GST charges for Australian residents.
Adding your Australian Business Number (ABN)
GST on cross-border transactions will not apply where you are an eligible Australian-based business recipient and have provided your Australian Business Number (ABN) to CoinJar prior to the transaction.
If you have an ABN for your business, please add it to your CoinJar's settings to ensure your tax information is accurate.
- Sign in to your CoinJar's settings.
- Under Tax Settings, please provide your ABN and select 'Save'.
CoinJar will provide you with a valid receipts where GST has been collected from you. These will be available to you within your CoinJar.
CoinJar is unable to offer tax advice. Please reach out to a tax professional for more information.
Updated: 21 Jan 2019 (AS)
Reviewed: 21 Jan 2019 (AS)