Syla partners with CryptoSpend to streamline tax calculations for crypto spenders
Brisbane, Australia - 28 June 2023
Syla, the leading Australian-only cryptocurrency tax software, is thrilled to announce its strategic partnership with CryptoSpend, an innovative crypto platform that empowers Australians to spend their crypto in a user-friendly manner via their CryptoSpend Visa Card.
This partnership seeks to resolve one of the most complex challenges crypto investors face – managing tax obligations. As cryptocurrencies gain acceptance for everyday payments, Australian crypto investors can find the tax implications daunting. This collaboration between Syla and CryptoSpend aims to simplify this complex process.
The essence of this partnership is the enabling of effortless crypto spending, with Syla managing the associated tax implications. Utilising its Australian-only crypto tax software, Syla automatically calculates users' tax obligations based on their CryptoSpend Visa Card transactions.
Nick Christie, Co-Founder at Syla, expressed his enthusiasm, saying, "We are thrilled to support Australians in leveraging their crypto for everyday payments. With our partnership with CryptoSpend, we are excited to provide a seamless experience that empowers Australians to actually spend their crypto. By simplifying the tax implications, we aim to make crypto spending accessible and hassle-free for all.”
Syla's software employs an industry-first Lowest-Tax First-Out (LTFO) algorithm that ensures CryptoSpend customers receive the most favourable tax outcomes possible under Australian tax law. The software is designed to mitigate the financial and administrative burden of tax compliance, providing users with a hassle-free crypto investment experience.
This partnership underscores Syla and CryptoSpend's shared commitment to transforming the way Australians utilise cryptocurrency for everyday payments. The partnership is dedicated to offering Australians a simplified, user-friendly experience for their crypto. It's an exciting step forward for both companies and a significant development for crypto users across Australia.
For more information, please stay tuned to the official websites and social media channels of Syla and CryptoSpend.
About Syla
Syla is Australia’s crypto tax software, created by a team of Australian tax and legal professionals, exclusively for Australian crypto investors. With Syla, you can easily generate ATO-compliant tax reports that are optimised to save you tax. Syla’s user-friendly platform caters to a range of account types, from individual investors to SMSFs.
For more information, please visit www.syla.com.au
For media enquiries email: hello@syla.com.au
About CryptoSpend
CryptoSpend is an innovative crypto platform that is redefining how Australians interact with their crypto. With its user-friendly Visa Card, CryptoSpend facilitates the mainstream adoption of cryptocurrencies for everyday payments.
For more information, please visit www.cryptospend.com.au