What are the tax effects of hard forks and soft forks in Austria?
01Answer
Here you go
In our opinion, hard forks held as private assets generate income from speculative transactions if these new units are sold within one year of acquisition. The acquisition cost is to be set as 0 Euros. This also applies to business operations, although it should be noted that there is no one-year period here, so that a profit is taxable at any rate (with acquisition costs of 0 Euro and profits from the transaction as a tax base). Soft forks only represent a kind of update, similar to a token swap, which is not relevant for tax purposes.
Detailed information can be found in our crypto tax guide (in German only).
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