Syla partners with Digital Surge to simplify crypto tax reporting
Brisbane, Australia - 23 May 2023
Syla, the leading Australian-only crypto tax software, and Digital Surge, an Australian digital currency exchange that makes buying and selling crypto easy, are thrilled to announce their strategic partnership. This landmark partnership aims to simplify tax reporting for everyday crypto investors and empower them to optimise their portfolios for better tax outcomes.
A joint mission to empower investors
With up to 47% of crypto gains going to the tax office, it's apparent that tax has one of the biggest impacts on every Australian crypto investor's portfolio. Syla has established its mission to assist Australian crypto investors to affordably resolve their crypto tax obligations, without having to pay more than they are legally obligated to.
Through this collaboration, Digital Surge users can now easily manage their investments, track tax liabilities with precision, and navigate the complex crypto taxation landscape with confidence.
Key benefits of the partnership
With a single click, Digital Surge users can now effortlessly sync their trading data to Syla, after establishing an API data-feed. Every transaction sync is automatically processed by Syla, to calculate and optimise crypto portfolios for lower tax. This process ensures that investors achieve the most favourable tax outcomes permissible under Australian law.
Key highlights of this partnership include:
- an industry-leading and seamless data feed integration between Digital Surge and Syla
- the ability for crypto investors to generate ATO-compliant crypto tax reports
- access to exclusive tax optimisation features ensuring the lowest legally possible tax outcomes in Australia
- valuable educational tax content tailored for crypto investors
Now, Digital Surge customers can leverage Syla - crypto tax software that is distinctively Australian in design and affordable in its approach covering up to 10,000 transactions for a nominal flat fee. Users can also optimise for the lowest possible tax results through Syla’s pioneering Lowest-Tax First-Out (LTFO) feature.
Dan Rutter, CEO of Digital Surge, shared his thoughts: "Our commitment at Digital Surge goes beyond simply providing a platform for buying and selling crypto. We strive to deliver a complete crypto investing experience, including consideration of the tax implications. Our partnership with Syla underpins this commitment, delivering all Digital Surge customers a cost-effective and accurate solution for the upcoming tax season.”
Solving crypto tax compliance
At the core of this partnership is an industry-leading data integration, set to simplify the way users comply with tax regulations:
- a purpose-built API data feed and CSV imports that streamline data transfer
- smart-logic classifications designed by tax professionals for enhanced accuracy
- quality control and continuous improvement of cryptocurrency transaction data standards
The seamless integration of Syla's platform with Digital Surge allows users to effortlessly import their transaction data into Syla’s tax software, eliminating manual data entry, reducing potential errors, and ensuring accurate and efficient tax reporting.
"Syla’s collaboration with Digital Surge has highlighted the value of quality transaction reporting. When comprehensive transaction data is available, it makes it possible for tax friction to be completely eliminated. Not only has crypto tax been solved for Digital Surge customers with the click of a button, but we also have a much better opportunity to achieve lower tax outcomes for investors." - notes Syla’s Co-Founder, Nick Christie.
The collaboration between Digital Surge and Syla will yield substantial benefits to Australian crypto investors. Together, we’re dedicated to supporting Australian crypto investors to manage their crypto investments, achieve better tax outcomes and grow their crypto wealth.
Syla is the leading Australian-only crypto tax software, built specifically to meet Australian tax legislation. You don't need to be a tax expert to use Syla. The platform makes it simple to import your trading history and generate an ATO-compliant crypto tax report. With support for up to 10,000 transactions at a single, low flat-fee, Syla stands out as Australia's most cost-effective crypto tax software.
For more information, please visit www.syla.com.au.
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About Digital Surge
Digital Surge is a trusted cryptocurrency exchange platform in Australia. It is committed to offering a uniquely user-friendly platform, making trading crypto safe and easy to understand.
For more information, visit www.digitalsurge.com.au.