Coinstash partners with Syla to streamline tax reporting for private wealth clients

Coinstash partners with Syla to streamline tax reporting for private wealth clients

Coinstash, one of the most well established and trusted Australian cryptocurrency platforms, has announced it has partnered with Syla, an industry-leading tax software designed by Australian tax professionals. The partnership aims to streamline tax reporting for Coinstash’s individual investors, along with its private wealth clients, including Self-Managed Super Funds (SMSFs), Trusts, and Corporate entities.

Syla, a software exclusive to the Australian market, has been specifically designed to address the needs of tax professionals within the industry, including SMSF Administrators. Its built-in tax logic and integration with BGL make it the preferred choice of crypto tax software amongst Accountants.

Now, with a single click, SMSF Accountants can effortlessly sync from Coinstash directly into BGL Simple Fund 360, thanks to Syla’s integration. This ensures a seamless and efficient tax reporting process for SMSFs that use Coinstash for managing their crypto investments.

Commenting on the partnership, Simon Ho, COO of Coinstash, said, “We are thrilled to partner with Syla and deliver a best-in-class tax reporting experience for our users and their entities. Coinstash is deeply committed to offering our clients the best possible compliance experience. Collaborating with Syla felt like the natural choice, given their leading position in providing crypto tax software tailored to Australian tax law.”

Syla Co-Founder Nick Christie, added, “Working with the Coinstash team has been a pleasure. It’s clear they have a commitment to providing a high standard of transaction data. Making them an excellent choice for SMSFs and their accounting professionals, who are considering the practical compliance aspects of crypto investments.”

The partnership between Coinstash and Syla is expected to bring significant benefits to private wealth clients in particular, including enhanced compliance efficiency, accuracy, and potential tax savings. Thanks to this integration, over 7,500 accounting firms and 250,000 SMSFs now have the ability to instantly solve crypto compliance by syncing transaction data from Coinstash to BGL Simple Fund 360, using Syla.