CP Partners Logo
Header Background

Latest News

Digital Assets You Forgot You Own (and Why They Still Matter at Tax Time)

Digital Assets You Forgot You Own (and Why They Still Matter at Tax Time)

Forgotten digital assets like old domains, online wallets and unused subscriptions can carry tax consequences in Australia. Here's what the ATO wants you to know.

.

Key Highlights

  • Digital assets include domains, online wallets, subscriptions, and income platforms
  • Forgotten assets can result in unclaimed income or tax reporting gaps
  • Managing domain names is one example of staying on top of digital ownership
  • A quick digital audit before tax time helps reduce costs and avoid mistakes

When you think about what needs sorting before tax time, your mind probably goes straight to invoices, receipts, or maybe that shoebox of expense records. What usually doesn’t make the list? Digital assets. Not just the obvious ones like crypto — we’re talking about the forgotten stuff. That domain you bought five years ago for a side project. The PayPal account with a lingering balance. A design software subscription that still bills you every quarter.

These digital remnants of past ideas or old routines might seem trivial, but they don’t disappear just because you’ve moved on. They can carry real financial value, attract ongoing charges, and in some cases, require reporting to the ATO. The more digital our lives become, the easier it is to overlook assets that live behind logins and email alerts.

You don’t need to be in tech or business to have digital assets. If you've ever bought a domain, earned money online, used cloud tools, or sold something through a digital platform, you’re in the picture. And what you’ve forgotten could quietly affect your records — especially as the ATO starts looking more closely at digital activity.

What Counts as a Digital Asset (and Why the ATO Cares)

Digital assets aren’t limited to investment tools like crypto or NFTs. In tax terms, they can include anything owned or controlled in digital form that holds value or generates income. Think domain names, PayPal and Stripe accounts, cloud storage credits, software subscriptions, digital products, online memberships and loyalty point balances.

The ATO has already flagged digital asset tracking as a growing focus area. They're paying closer attention to undeclared online income, capital gains on digital sales, and deductions linked to digital tools. That includes small business operators, sole traders, side hustlers, and even individuals who’ve passively held online assets for years.

Unlike physical assets, digital ones tend to stay hidden — until they pop up in bank statements or audit trails. That’s why the ATO’s data-matching programs increasingly scan for payment platform activity, crypto wallets, and business tools with financial links. Whether or not the asset is active, ownership alone may carry tax consequences.

Common Digital Assets Australians Forget They Own

It’s surprisingly easy to lose track of what’s still in your name. A domain purchased during a uni project. A few hundred dollars sitting in an old PayPal account. A Canva Pro subscription still charging your card. Accounts on platforms like Etsy or Gumroad with small earnings that never made it to your bank.

Crypto wallets with forgotten tokens. Old eCommerce storefronts. Cloud services or website hosting packages that auto-renew. Affiliate platform earnings you didn’t realise were taxable. These aren’t niche problems — they’re everyday scenarios. And while none of them might seem significant on their own, they can add up to messy tax returns or missed deductions.

Tax Time Risks of Forgotten Digital Assets

The ATO doesn’t just care about what you’re actively using. They care about what’s in your name, what earns income, and what changes in value. If you’ve sold a domain, cashed out a token, or let a digital asset expire after it had been linked to business activity, there may be tax implications — even if you forgot it was there.

You might be paying for things you no longer use, like subscriptions or storage. You might also be entitled to deductions you’re not claiming, simply because you overlooked a tool that’s technically still part of your workflow. If you’ve made money through digital platforms but didn’t report it, you could end up under-declaring income.

How Domain Names Fit into the Bigger Picture

Domain names are a great example. Plenty of Australians own domains they haven’t used in years. Some were set up for old blogs or side businesses, others for ideas that never launched. But if those domains are still renewing, or were ever linked to a business ABN, they can’t be ignored at tax time.

Effectively managing domain names is a key part of the wider digital clean-up. Knowing what you still control, what’s worth keeping, and what should be written off or sold makes your tax position clearer. Domains can sometimes hold resale value too, which may attract capital gains if sold.

Simple Steps to Reclaim Control Before Tax Time

A simple digital audit is all it takes to stay ahead. Go through your inbox for old subscription receipts. Log into your domain registrar or hosting provider to see what’s still active. Check balances on PayPal, crypto wallets, and online marketplaces. Make note of what’s linked to your business, what you’re still paying for, and anything with income potential.

Work with an accountant who understands digital asset reporting in Australia. The ATO’s approach to digital income is tightening, and guessing your way through it won’t cut it anymore. Even if an asset doesn’t trigger a tax event this year, keeping it on your radar ensures you’re ready when that changes.

Final Thoughts

Digital assets have become part of modern financial life — but they’re often treated like digital dust. Whether it's a domain quietly auto-renewing, a side hustle account you forgot about, or a few dollars in a wallet you haven’t touched in years, the ATO may still want to know about it.

It’s worth taking time before June 30 to look at what you still own online. Because if it holds value, costs money, or ever touched your business activity, it matters more than you think.

 

 

 

31 December 2025
Dominic Vivarini 
accountantsdaily.com.au

Hot Issues

Mario Chiodo

Mario Chiodo (CPA)

Having a wealth of knowledge and experience in public practice, before founding his own firm in 1985, Mario is a seasoned Partner and leader of the CP Partners team. Mario’s role over the years has been pivotal in guiding clients through complex financial landscapes to ensure their success. He is committed to delivering high-quality service, fostering strong, long-term client relationships, and provides the CP team with strategic guidance and support. Mario is the office coffee machine’s biggest fan (it’s never too late for an espresso)! Outside of work, Mario enjoys gardening, spending quality time with his family and dog, and when the season is right, you’ll find him mastering homemade wine and smallgoods!

John Capuana

John Capuana (CPA)

John joined CP Partners back in 1997. In his role as Partner, he provides fundamental advice to clients, ensuring effective communication with both clients and the CP team. John values the long-term relationships he’s built with clients and the positive impact made by working together. His extensive experience in public practice has shaped his approach, allowing him to leverage lessons learnt throughout his career. John is a master of the lunchtime AFL quiz, and on weekends, he enjoys spending time with his family and granddaughter, hitting the golf course, and supporting his beloved Cats at AFL games in Geelong.

Alf Magnano

Alf Magnano (CPA)

In his role as Partner, Alf dedicates his efforts to guiding clients to achieve their business and financial goals in a way that is most beneficial for them. He particularly enjoys being available to provide support to clients as and when needed, always going the extra mile to help! Beginning in 2000, his journey with CP Partners has allowed him to refine his skills. He often mentors the CP team is various areas, helping to shape the next generation of accountants. Out of the office, Alf indulges in his passion for trekking through jungles in search of elusive plants, combining adventure with his love for nature. We have Alf to thank for the beautiful greenery spread throughout the CP office!

Gagan Bijan

Gagan Bijan (CA)

As the Finance Manager at CP Partners, Gagan’s day-to-day responsibilities ensure that internal finances are meticulously managed and under control. He thrives in his role as it allows him to leverage his expertise in financial management whilst continuing to widen his knowledge. Gagan has been instrumental in implementing key initiatives at CP Partners such as budgeting tools, software updates, and policy development. He remains our in-house IT expert! In his free time, Gagan enjoys watching soccer and barracking for India in the cricket.

Ruba Marcus

Ruba Marcus (CA)

Ruba is CP Partners’ inaugural Manager of Client Operations, which sees her managing the team budget and coordinating workflow each day. She is also a Senior Business and Tax Adviser and a member of Chartered Accountants Australia and New Zealand (CAANZ). Ruba is passionate about supporting our clients to achieve their business and financial goals as well as helping all CP team members develop and grow to fulfil their potential. Ruba has a wealth of knowledge, and enjoys taking on new challenges, having worked on businesses of all sizes and SMSFs for over 18 years! Outside of work Ruba loves spending quality time with her family.

Nicole Rosen

staff-silhouuette

Coming soon...

Geena Chiodo

Geena Chiodo (CPA)

Geena joined the CP Partners team in 2019, bringing with her experience from various accounting roles within the construction industry. She is a member of CPA Australia, an Excel whiz, and has evolved into CP Partner’s go-to expert for all things Xero. Geena has a strong attention to detail, a passion for problem solving and teaching new skills to other team members. She finds great satisfaction in building strong client relationships and being their trusted point of contact. Out of the office, Geena enjoys travelling, getting lost in a good book, supporting Collingwood at AFL games, and spending time with family, friends and her dog.

Sudath Dissanayaka

Sudath Dissanayaka (CA Provisional)

As an accountant at CP Partners, Sudath enjoys collaborating with the team and working on a diverse range of clients. He has a passion for continuous learning and relishes the dynamic nature of tax that ensures each day is unique! In the office, you’ll find Sudath mastering new software with ease and always excited to take on a new challenge. Outside of work, Sudath is a keen car and Lego enthusiast. He enjoys spending time with his family, his two Golden Retrivers, and baby daughter.

Navdeep Singh

Navdeep Singh (CA)

With over 17 years of experience in accounting, auditing, and taxation, Navdeep brings a wealth of knowledge to his role as Team Leader of CP Partners’ Indian team. His day-to-day responsibilities include managing workflow for his team and working on accounting and compliance for various sized clients. Navdeep has fantastic analytical skills and is an instrumental part of the CP team. Outside of work, Navdeep enjoys listening to good music, and on the weekends, you’ll find him playing local cricket.

Sahil Arora

Sahil Arora (CA)

Sahil’s journey with CP Partners began in 2022 when he joined as an accountant within the Indian Team. His day-to-day responsibilities involve working on accounting and compliance for individuals and businesses of all sizes. Sahil is a hardworking and reliable team member, who enjoys taking opportunities to deepen his technical knowledge. He has a calm and composed demeanour, which enables him to handle challenges and pressure situations with ease. Outside of work, Sahil enjoys practising yoga, watching cricket, and playing when he can too!

Elizabeth Magnano

Elizabeth Magnano

Liz joined CP Partners in 2016 and brings with her over 25 years of experience in delivering administration services for various accounting and financial planning firms. Liz remains focused on enhancing client services and providing timely advice and support to clients. She finds it most satisfying helping clients to achieve their financial objectives. Liz is an instrumental leader of the client services team, always going the extra mile to provide client support. Outside of work, Liz is a passionate Carlton supporter in the AFL and enjoys following the Australian cricket team.

Anna Atar

Anna Atar

Anna has been a valued member of the CP Partners team since 2001, bringing over 25 years of experience to her role. Throughout her tenure, she has embraced the evolving landscape of the accounting industry, dedicated to helping clients navigate changes. You’ll see Anna at the front reception desk, cheerfully greeting clients as they arrive. She takes great pleasure in interacting with clients and is an integral part of their journey as they achieve their financial and life goals with CP’s guidance. Outside of work, Anna enjoys gardening and cherishes spending time with her family, particularly since the arrival of her grandson.

Suzie Vasileski

Suzie Vasileski

Suzie joined CP Partners in 2022 as administration support, marking her first role at an accounting firm. Since then, she has become an integral part of the client services team, always happy to assist clients with their queries both on the phone and in person. Suzie's involvement in various aspects of accounting work means she discovers something new every day! Her enthusiasm, dedication, and clear communication style makes her a cherished member of the team. On the weekends, Suzie enjoys spending time with family, travelling around Australia and overseas, and eating out at beautiful restaurants!

General Disclaimer

The material on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained on the website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs.

Before making an investment decision based on this advice you should consider whether it is appropriate to your particular circumstances, alternatively seek professional advice.

Privacy Policy

CP Partners is committed to providing quality services to you and this policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.

We have adopted the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) (the Privacy Act). The NPPs govern the way in which we collect, use, disclose, store, secure and dispose of your Personal Information.

A copy of the Australian Privacy Principles may be obtained from the website of The Office of the Australian Information Commissioner at https://www.oaic.gov.au/.

What is Personal Information and why do we collect it?

Personal Information is information or an opinion that identifies an individual. Examples of Personal Information we collect includes names, addresses, email addresses, phone and facsimile numbers.

This Personal Information is obtained in many ways including correspondence, by telephone and facsimile, by email, via our website www.cppartners.com.au, from your website, from media and publications, from other publicly available sources, from cookies and from third parties. We don't guarantee website links or policy of authorised third parties.

We collect your Personal Information for the primary purpose of providing our services to you, providing information to our clients and marketing. We may also use your Personal Information for secondary purposes closely related to the primary purpose, in circumstances where you would reasonably expect such use or disclosure. You may unsubscribe from our mailing/marketing lists at any time by contacting us in writing.

When we collect Personal Information we will, where appropriate and where possible, explain to you why we are collecting the information and how we plan to use it.

Sensitive Information

Sensitive information is defined in the Privacy Act to include information or opinion about such things as an individual's racial or ethnic origin, political opinions, membership of a political association, religious or philosophical beliefs, membership of a trade union or other professional body, criminal record or health information.

Sensitive information will be used by us only:

Third Parties

Where reasonable and practicable to do so, we will collect your Personal Information only from you. However, in some circumstances we may be provided with information by third parties. In such a case we will take reasonable steps to ensure that you are made aware of the information provided to us by the third party.

Disclosure of Personal Information

Your Personal Information may be disclosed in a number of circumstances including the following:

Security of Personal Information

Your Personal Information is stored in a manner that reasonably protects it from misuse and loss and from unauthorized access, modification or disclosure.

When your Personal Information is no longer needed for the purpose for which it was obtained, we will take reasonable steps to destroy or permanently de-identify your Personal Information. However, most of the Personal Information is or will be stored in client files which will be kept by us for a minimum of 7 years.

Access to your Personal Information

You may access the Personal Information we hold about you and to update and/or correct it, subject to certain exceptions. If you wish to access your Personal Information, please contact us in writing.

CP Partners will not charge any fee for your access request, but may charge an administrative fee for providing a copy of your Personal Information.

In order to protect your Personal Information we may require identification from you before releasing the requested information.

Maintaining the Quality of your Personal Information

It is an important to us that your Personal Information is up to date. We will take reasonable steps to make sure that your Personal Information is accurate, complete and up-to-date. If you find that the information we have is not up to date or is inaccurate, please advise us as soon as practicable so we can update our records and ensure we can continue to provide quality services to you.

Policy Updates

This Policy may change from time to time and is available on our website.

Privacy Policy Complaints and Enquiries

If you have any queries or complaints about our Privacy Policy please contact us at:

(03) 9408 6555