Crypto consumers in Australia, Canada, and the United States are now able to generate tax reports on the go thanks to a brilliant initiative by crypto.com, a mainstream exchange firm.
The development significantly reduces the hassles involved in filing crypto tax. Records and transactions from other supported exchanges and wallets and can be imported into Crypto.com’s system.
After which the figures will be compiled, calculated and downloaded within minutes.
Crypto.com claims it worked with expert tax advisors to ensure the proposed tax report is in line with the taxation laws in Australia.
The tax report feature was available exclusively to customers in Canada and the US but it has now been extended to cover users in Australia.
The most enticing thing about this service is that, it is completely free and supports multiple wallets and exchanges.
This would most likely solve a large portion of the crypto taxation issues raised by some legislators particularly in the US.