Syla unveils new collaboration with Coinstash to solve tax reporting for private wealth clients
Brisbane, Australia - 18 May 2023 - Syla, Australia’s crypto tax software developed by Australian tax experts, are excited to announce our strategic partnership with Coinstash, one of the most well established and trusted Australian cryptocurrency platforms. This partnership aims to simplify tax reporting for both individual investors and Coinstash's private wealth clients, encompassing Self-Managed Super Funds (SMSFs), Trusts, and Corporate entities.
Designed exclusively for the Australian market, Syla's tax software is tailored to meet the demands of tax professionals in the sector, including SMSF Administrators. Its built-in tax logic and integration with BGL make it the preferred choice of crypto tax software amongst Accountants.
Now, with a single click, SMSF Accountants can effortlessly sync from Coinstash directly into BGL Simple Fund 360, thanks to Syla's integration. This new integration promises an efficient, smooth tax reporting process for SMSFs utilising Coinstash to handle their crypto investments.
Simon Ho, COO of Coinstash, expressed his excitement about the partnership, stating, "We are thrilled to partner with Syla and deliver a best-in-class tax reporting experience for our users and their entities. Coinstash is deeply committed to offering our clients the best possible compliance experience. Collaborating with Syla felt like the natural choice, given their leading position in providing crypto tax software tailored to Australian tax law."
Echoing these sentiments, Syla’s Co-Founder, Nick Christie, noted, "Working with the Coinstash team has been a pleasure. It’s clear they have a commitment to providing a high standard of transaction data. Making them an excellent choice for SMSFs and their accounting professionals, who are considering the practical compliance aspects of crypto investments."
The collaboration between Coinstash and Syla will yield substantial benefits to private wealth clients in particular, enhancing compliance efficiency, accuracy, and potential tax savings. Thanks to this integration, over 7,500 accounting firms and 250,000 SMSFs now have the ability to instantly solve crypto compliance by syncing transaction data from Coinstash to BGL Simple Fund 360, using Syla.
Syla is Australian crypto tax software that has been purpose-built to meet Australian tax legislation. Accountants use Syla to easily import their clients’ crypto transaction data and accurately calculate tax outcomes. Syla’s support team of Australian tax professionals makes it the easiest way to start solving crypto tax in public practice.
For more information, please visit www.syla.com.au.
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Coinstash is one of the most well established and trusted cryptocurrency exchange platforms in Australia, with over 20,000 registered clients. Founded in 2017, Coinstash is proudly Australian owned and operated, and AUSTRAC registered.
With support for the most assets in Australia, Coinstash makes it simple and safe to buy, sell, earn, and trade over 1,000+ cryptocurrencies. With competitive fees, low spreads, and a feature-packed app, Coinstash is the go-to platform for all your crypto needs in Australia. For more information, please visit https://www.coinstash.com.au.