All of Syla's plans are designed to help you get your crypto tax sorted.
Understanding the plan types
Free
You can sign up for an account on Syla for free. You can import all your data, view and edit your transactions and even check your dashboard with your overall holdings.
Important: You'll only need to upgrade to a paid subscription when you're ready to download reports.
Budget
The Budget plan is designed to be Australia's most affordable tax software for crypto investors. It allows you to import 10,000 transactions and download your Crypto Tax Report. There are no restrictions on which exchanges or wallets you can integrate with. This plan is designed specifically for cost-conscious investors.
Assurance
The Assurance plan provides additional supporting reports that can be very beneficial for your Accountant or if you are reviewed or audited by the ATO. The additional supporting reports that you can download are:
Transactions CSV - All the individual transactions on your account.
Tax Outcomes CSV - Each itemised CGT event and tax outcome which occurred.
Cost of Remaining Assets CSV - Cost base and original purchase date for all remaining assets on 30 June.
You can download samples of the reports from the Tax Reports page in your account.
Tax Saving
The Tax Saving plan is designed for those who want to optimise for lower tax outcomes. It gives you access to additional parcel matching methods including: FIFO, LIFO, HIFO and LTFO (Lowest Tax First Out). These algorithms are designed to selectively choose CGT parcels to achieve better tax outcomes.
The exact tax saving will vary depending on your actual transaction history, but this plan is generally suitable when the tax saving benefit is greater than the cost of the subscription.
Private Wealth
The Private Wealth plan is designed for private wealth entities including Company, Trust and SMSF account types, along with active traders.
Main features:
Increased transaction count up to 100k.
Support for the Trading activity type where crypto is treated as Trading Stock instead of Capital Gains.
SMSF's and other entities can also utilise the BGL Simple Fund 360 and BGL Simple Invest 360 integrations.
Recurring subscription
All plans are based on an annual subscription model, and you will be billed again every 12 months. You have the option to cancel your plan at any time.
All financial years are included
There's no additional cost to access specific financial years in Syla. All financial years are included in a single subscription.
Once you purchase a subscription, you'll be able to download reports for any financial year including all of your historical years and the current financial year.
Transaction limit
For performance reasons, there is a limit to the number of transactions that can be imported into your Account.
For the Budget, Assurance, Tax Saving, the current transaction limit is 10,000.
The Private Wealth plan increases the transaction limit to 100,000. This is the current transaction limit in Syla.
The transaction limit is a cumulative limit across all financial years, and each transaction counts towards the limit in your account.
You can view your current transaction count from the Transactions page.
Syla will do a number of smart aggregations and grouping of data that often results in less data than expected. For example, a Trade is counted as a single transaction, even though it normally contains three components: Disposal, Acquisition and Brokerage Fee.
It's free to import your data, which is the easiest way to find out how many transactions you'll actually end up with. You don't have to pay until you want to generate a tax report.
If you have over 100,000 transactions, then we recommend aggregating your transactions, for example, combining a days worth of trades into a single transaction. This is a manual process, and we recommend engaging an accountant or other professional to assist to ensure the tax outcomes are still correct. Reach out to our support if you need a recommendation or have any questions.
FAQ
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Check that you have adequate balance for the payment.
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If you're still having issues, please contact our support.
Can I cancel my plan?
You can cancel your subscription at any time. You'll still have access to your account for the remainder of your subscription.
Can I upgrade my subscription?
You can upgrade your subscription at any time. You'll only pay the difference between the new plan and the amount you paid for your current plan.
What currency are the prices in?
All subscriptions and plans in Syla are in Australian Dollars (AUD), and are inclusive of GST.
Do I need a separate subscription for my Trust, Company or SMSF?
While you can manage all of your accounts under a single login, you'll still need create a separate account for each of your entities in Syla. You'll need a subscription for each account to be able to download reports.