What is Stormrake
Stormrake is a Melbourne-based cryptocurrency brokerage founded in 2019. It offers full-service crypto trading with dedicated broker support, best-market pricing, and secure custody.
Benefits for Australian investors:
- Personalised brokerage service
- Competitive pricing across multiple trading venues
- Secure cold storage custody
- Activity Statement CSV for tax reporting
Stormrake is AUSTRAC-registered (DCE 100631789) and trusted by Australian investors who want a hands-on, guided crypto experience. Whether you’re an individual investor or running a Self-Managed Super Fund (SMSF), Stormrake is designed to support you with tailored service.
Syla + Stormrake integration
With Syla, Stormrake users can easily calculate their crypto tax and generate an ATO-compliant Crypto Tax Report - whether you're lodging yourself or using a tax agent.
✅ Activity Statement CSV import
✅ Crypto tax report generation with ATO-compliant records
Do you have to pay tax on cryptocurrency?
Yes. Ever since the ATO issued its first guidance on crypto in 2014, it’s been clear that cryptocurrency is taxable in Australia.
For most individuals, crypto is subject to Capital Gains Tax (CGT). You need to calculate the gain or loss on every disposal, such as selling crypto or swapping one coin for another, and declare the resulting gains or losses in your tax return.
According to the ATO, you must keep the following records:
- Receipts when you buy, transfer, or dispose of crypto
- The date of each transaction
- The purpose of the transaction and the other party involved (even if just their wallet address)
- Exchange records
- The value of the crypto in AUD at the time of each transaction
You can read the most up-to-date ATO guidelines on cryptocurrency and tax.
How is crypto taxed on Stormrake
Stormrake transactions, whether buys or sells, are subject to Australian tax rules just like any other crypto exchange or brokerage.
Every crypto trade is considered a CGT event, and the amount of tax depends on a number of factors such as the type of asset, how long you've held it, and whether you purchased it as an investment or as part of a trading activity.
👉 For more detail, read our ultimate crypto tax guide.
Does Stormrake report transactions to the ATO
Yes, Stormrake is a registered Digital Currency Exchange (DCE) with AUSTRAC and complies with Know Your Customer (KYC) obligations. That means your identity is linked to your transactions.
Since 2019 the ATO has been operating a data matching program with Australian exchanges. If you’ve traded through Stormrake, it’s likely your data has been shared with the ATO.
You’ll know the ATO has your cryptocurrency transaction data, as it will show in the prefill report on your tax return. That means it’s important that you do calculate and declare your crypto gains, otherwise it’s only a matter of time before the ATO comes knocking.
CSV file import - how to import your Activity Statement
Stormrake provides an Activity Statement CSV which includes your transaction history.
How to get it:
- Contact your broker at Stormrake or email trade@stormrake.com, and request a copy of your Activity Statement in CSV format.
- If this is your first time importing into Syla, ask for a complete activity statement starting from the date you first registered with Stormrake.
Once you’ve received the file:
- Log in to Syla (or create a free account).
- Add a Stormrake Data Source.
- Upload your Activity Statement CSV.
- Click Import.
Holding Statement PDF
Stormrake provides an Activity Statement PDF which shows your portfolio holdings on 30 June. It’s required for SMSFs and helpful for confirming that your balances in Syla match what you have on Stormrake.
How to get it:
- Contact your broker at Stormrake or email trade@stormrake.com.
- Request your Activity Statement PDF for 30 June.
This document should be stored in your records, and provided to your Tax Accountant if you are using one.
Syla's Smart Tax Logic for Stormrake
Syla automatically handles:
- Classification of buys, sells, deposits, and withdrawals.
- Application of trading fees to reduce your CGT.
- Cost base tracking for every crypto asset.
- ATO-compliant Crypto Tax Report generation.
How to do your Stormrake taxes
Stormrake provides clear and detailed reports of your transaction history, making it easy to track what you've bought and sold. However, calculating your tax obligations, such as your capital gains, cost base adjustments, and holding periods, still requires additional processing.
That's why most accountants and tax professionals recommend using crypto tax software like Syla.
There are two ways to process your Activity Statement from Stormrake:
- Do it by hand in a spreadsheet 😵
- Use crypto tax software like Syla to automate and optimise your tax outcome 🚀
Pay the lowest crypto tax and save the hassle of doing crypto tax yourself
It's very difficult to calculate all the tax outcomes correctly for your crypto by hand unless you're a tax professional.
If you are using a tax accountant, then you probably don’t want them doing it by hand either, as it's going to take a long time and cost a lot.
That’s why using cryptocurrency tax software can save you a lot of time that you’d rather spend doing something else. 😊
Syla is the only crypto tax software designed specifically and only for Australia. Syla not only calculates all your tax outcomes to ensure you are compliant to the ATO, but it also optimises your tax to ensure you pay the lowest crypto tax legally possible, saving you both time and money.
- Syla is built specifically for Australian taxpayers
- Syla’s tax logic is optimised by Australian tax professionals to legally minimise tax
- Syla’s Crypto Tax Reports are recognised by Australian tax professionals as being ATO compliant
You can get started in Syla for free.
FAQ
Does Stormrake have tax statements?
Yes. Stormrake provides a CSV Activity Statement (with transaction history) and a PDF 30 June Activity Statement (for balances). Both are essential for completing your crypto tax.
How do I get Stormrake tax statements?
Email trade@stormrake.com or contact your broker to request your Activity Statement.
Does Stormrake have an end of year holding statement?
Yes, Stormrake has an Activity Statement that you can download in PDF format which contains the closing balances on 30 June. This document is important for Self-Managed Super Funds (SMSFs) who require balance confirmation on 30 June.
Do I have to pay tax on Stormrake trades?
Yes. Crypto is taxable in Australia. Trades on Stormrake trigger capital gains or income tax depending on your activity.
