As of 01.01.2024, Austrian crypto platforms and brokers are obliged to withhold capital gains tax (KESt) on the sale of cryptocurrencies purchased as from 01.03.2021. This regulation also applies to sales of Bitcoin at Coinfinity if you have a main residence or habitual abode in Austria.

For this reason, we also ask for your tax residence to ensure that we meet all legal requirements and calculate your tax obligations correctly.

In order to calculate the capital gains tax correctly, we need information on acquisition dates and costs, which must then be checked for plausibility.

If you purchased your Bitcoin before 01.03.2021, it is considered old crypto holdings. Old crypto holdings can be sold tax-free and there is no capital gains tax deduction.

If you purchased Bitcoin from 01.03.2021, it is considered new crypto holdings. When selling against Euro, a capital gains tax rate of 27.5% is withheld from your capital gain (sales proceeds minus acquisition costs).

If no acquisition costs and acquisition dates are communicated by you or the information is classified as implausible in the plausibility check, we must make a lump-sum KESt deduction. In this case, half of your sales proceeds will be assumed as the acquisition costs.

If you bought Bitcoin both before and after 01.03.2021 and hold it on the same Bitcoin address, the legislator allows you to choose which Bitcoin you want to sell first. In case of doubt, it is assumed that the bitcoins purchased earlier are deemed to have been sold first.

In the case of lump-sum and new holdings, we will withhold the capital gains tax and pay it to the tax office for you.

For more information on this topic and a tax calculation example, please read our related blog post.