Why are currencies converted to AUD?
The ATO requires all capital gains and losses to be reported in Australian dollars so when adding or selling stocks, shares or cryptos. To ensure accuracy, in Holdings Tank you need to enter the BUY price, SELL price and any trading fees in Australian Dollars (AUD).
What about the daily market values?
To keep things real, we also convert the daily market value for listed stocks, shares and cryptos into Australian dollars so you can monitor your total portfolio value and any capital gains and losses in one place and see real time data to know your tax position all year round.