Austria's Eco-Social Tax Reform (Ökosoziale Steuerreform) fundamentally rewrote how crypto is taxed — effective 1 March 2022 and applying retroactively to assets acquired after 28 February 2021. The long-standing one-year tax-free holding rule is gone for post-cutoff acquisitions, replaced by a flat 27.5% special tax rate (Sondersteuersatz). In exchange, investors get a simpler framework, favourable treatment of crypto-to-crypto swaps, and loss-offsetting rules inside the same tax category.
Annual self-assessment filing in Austria uses the E1 form, submitted by 30 June of the year following the tax year when filed electronically through FinanzOnline. The canonical primary-source reference is the BMF's English-language page on the tax treatment of crypto assets. For a cross-EU comparison, see our analysis of how Polish crypto tax rules compare to other EU member states.
When crypto triggers tax in Austria
Not every crypto action generates a tax event. The reform deliberately narrowed the list of "realisation events" that trigger the 27.5% rate, leaving many in-ecosystem operations neutral. The distinction is one of the most important points to internalise:
The neutrality of crypto-to-crypto swaps is one of the most distinctive features of Austria's framework and sets it apart from most other EU jurisdictions. Austrian investors can rebalance token allocations freely without triggering a tax event — tax applies only when value leaves the crypto ecosystem or, for zero-cost-basis assets, when they are ultimately disposed of.
Old stock vs new stock — the 28 February 2021 cutoff
The single most consequential rule in the Austrian framework is the old-stock / new-stock distinction. Everything you acquired before 28 February 2021 is "old stock" and remains fully exempt from capital gains tax at disposal — the legacy one-year tax-free holding rule still applies because those acquisitions were subject to the pre-reform regime. Everything acquired on or after 1 March 2021 is "new stock" and falls under the flat 27.5% rate.
Tracking the acquisition date of every position is therefore not optional — it is the single highest-value piece of tax documentation an Austrian crypto holder maintains. Wallets and exchanges that existed across the cutoff need explicit proof of which tranches fell on which side.
Average-cost method replaces FIFO
The valuation method used to establish acquisition cost directly affects how much tax you owe. Austria has moved away from FIFO to a weighted average-cost method (Durchschnittsmethode) for new-stock crypto held in the same wallet or account.
FIFO (old framework)
Under the pre-reform regime, Austria broadly followed First-In-First-Out — the oldest units in a wallet were considered sold first. In prolonged bull markets this often produced the lowest-possible cost basis and therefore the largest taxable gain, because early, cheaper units were matched against current, higher disposal prices.
Average-cost method (current framework)
Under §27b(4) EStG, the acquisition cost of new-stock crypto held in one wallet or account is computed as a weighted average across all units of that asset. The total acquisition cost is divided by the total number of units held, producing a single average cost per coin. That figure becomes the cost basis for every disposal until new acquisitions shift the average.
The average-cost method smooths volatility, eliminates the "early-purchase penalty" of FIFO, and is the simpler framework to document — provided the wallet-by-wallet segregation is maintained. Old-stock holdings must be tracked separately and are not mixed into the average.
Crypto activities, case by case
Austrian tax treatment differs substantially across activity types. The summary table below anchors the detail that follows.
Mining
Non-commercial mining rewards are treated as capital income at the EUR value on the date of receipt and taxed at 27.5%. That same EUR value becomes the cost basis for the mined tokens; if they later appreciate and are disposed of, the gain is taxed at 27.5% on top. Commercial miners — operations carried on as a trade — are taxed as business income at progressive rates under §23 EStG instead.
Liquidity-pool and yield-farming rewards follow a similar logic, but their classification depends on the underlying mechanics: some LP activities are treated as swaps (no receipt event), others as income at receipt. The specific protocol matters.
Staking — not taxed at receipt
This is one of the most distinctive features of the Austrian framework. Staking rewards are not taxed when received. Instead, the tokens are assigned a zero cost basis — so when they are eventually sold, swapped for fiat, or spent, the full disposal proceeds are taxed at 27.5%, not just the appreciation portion.
The trade-off is simple: no tax burden accrues while staking, but when you exit, the tax base is larger than it would be if you had paid at receipt on a fair-market-value cost basis. Long-term stakers who hold through rising markets effectively pay 27.5% on 100% of proceeds.
NFTs — outside the crypto framework
NFTs are not covered by the legal definition of "crypto assets" under §27b EStG. They remain under the older framework: exempt if held for more than one year before sale, otherwise taxed as ordinary speculative income at progressive rates up to 55%. This is both a trap and an opportunity — traders need to segregate NFT positions from other crypto holdings and track holding periods individually.
Lending and crowdlending
Interest income from crypto lending — whether on centralised platforms, DeFi protocols, or collateral-backed crowdlending — is taxed at 27.5% as capital income. Any later appreciation of the lent asset itself is a separate 27.5% event on the gain.
Crowdlending specifically offers a structurally predictable tax profile: interest is received on a defined schedule at a pre-agreed rate, the counterparty is identified, and the euro value of each payment can be documented immutably at receipt — the kind of record the BMF-style documentation standard takes for granted.
Airdrops, hard forks, and bounties
Despite the common intuition that airdrops are "free money and therefore taxable immediately", the Austrian treatment is the opposite: no tax at receipt, zero cost basis assigned, and the full proceeds are taxed at 27.5% on disposal — the same mechanic as staking rewards.
The exception is bounty-type distributions received in exchange for active work (promoting a project, providing services, completing tasks). Those can fall under ordinary income rules if the connection to the work is direct and contractual. The dividing line is whether the recipient "earned" the tokens through service or simply received them as a passive allocation.
Gifts — tax-free with reporting thresholds
Gift and inheritance tax was abolished in Austria in August 2008. Crypto gifts to anyone are therefore tax-free, regardless of amount. However, the Gift Notification Act (Schenkungsmeldegesetz 2008) requires reporting above specific thresholds measured over a rolling five-year period:
- €50,000 for gifts between close relatives (spouse, parent-child, sibling, grandparent-grandchild).
- €15,000 for gifts between other parties (friends, unrelated individuals, non-close relatives).
Reporting must be filed within three months of the gift by either the giver or the recipient. Failure to report can trigger significant fines — but no tax is owed on the gift itself. The recipient inherits the original giver's cost basis and acquisition date — so a gift of old-stock crypto retains its tax-free status.
Margin, futures, and derivatives
Crypto derivatives — margin positions, perpetual futures, CFDs, options — do not fall under the 27.5% special rate. They are treated as unlisted derivatives (§27 EStG) and taxed at progressive income-tax rates up to 55%, regardless of the underlying being crypto. Gains and losses in derivative positions also cannot be freely offset against spot crypto gains — they live in a separate tax silo.
Offsetting crypto losses
Losses on new-stock crypto can be offset against gains in the same tax category — that is, against other capital income taxed at 27.5%, including dividend and interest income. Crucially, crypto losses cannot be used to reduce employment income, business income, or any income taxed at the progressive scale. The shield works within the capital-income category only.
The asymmetry here is important: large crypto losses do not help with salary tax, and cross-category offsetting is blocked. Planning should therefore emphasise realising gains and losses in the same tax year where possible, so they net against each other at the 27.5% rate.
8lends spotlight — lending inside the Austrian framework
For Austrian investors looking to generate crypto-denominated yield within the favourable 27.5% rate, collateral-backed crowdlending is one of the more documentation-friendly options. Every interest payment is a defined 27.5% taxable event at a known euro value — no valuation disputes, no ambiguity over whether the receipt qualifies as active or passive income.
Frequently asked questions
Is crypto-to-crypto trading taxable in Austria?
No. Under §27b(3) EStG, swapping one crypto asset for another — BTC for ETH, ETH for a stablecoin, token for token — is a neutral event. The cost basis of the original asset carries over to the new asset. Tax is triggered only when value leaves the crypto ecosystem (sale to fiat, payment for goods or services, or disposal of zero-cost-basis assets).
Are pre-2021 crypto holdings tax-free in Austria?
Yes. Crypto acquired before 28 February 2021 is classified as old stock (Altvermögen) and falls under the legacy framework, which granted a permanent exemption from capital gains tax once the one-year holding period had been observed. This applies regardless of how much the asset has appreciated. Documenting the pre-cutoff acquisition is essential to claim the exemption.
How are staking rewards taxed in Austria?
Staking rewards are not taxed at receipt. Instead, the received tokens are assigned a zero cost basis. When those tokens are later sold, swapped to fiat, or spent, the full disposal proceeds are taxed at 27.5% — not just the appreciation. The same rule applies to most airdrops, hard forks, and passive bounty-type distributions.
What tax applies to crypto gifts in Austria?
Gifts are fully tax-exempt — Austria abolished gift and inheritance tax in August 2008. However, gifts above certain thresholds must be reported to the authorities within three months under the Gift Notification Act: €50,000 over a five-year rolling period for close relatives, €15,000 for others. The recipient inherits the giver's acquisition date and cost basis.
Can crypto losses offset my salary in Austria?
No. Crypto losses can only be offset against other capital income taxed at 27.5% (interest, dividends, other crypto gains). They cannot reduce employment income, business income, or any income taxed at progressive rates. To claim offsets, the loss must be realised through an actual disposal and claimed via assessment rather than final withholding.
Conclusion
Austria's 27.5% flat crypto tax ended the country's status as a pure tax haven, but the framework still rewards investors who plan carefully. The three highest-value things to get right are:
- Track the 28 February 2021 cutoff — old-stock holdings remain fully exempt and must be segregated from new stock to preserve that exemption.
- Use the average-cost method correctly, wallet by wallet — and keep derivative positions in a separate silo because they fall under progressive rates up to 55%.
- Realise gains and losses in the same tax year where possible — offsetting works only within the capital-income category.
Crypto lending and crowdlending fit cleanly into this framework because every interest payment is a predictable 27.5% event with a documented euro value and counterparty — exactly the structure the BMF's guidance and the E1 form were designed for.
