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Tax by country

Airdrops and forks

When an airdrop or hard fork is taxable, its cost base, and the tax on a later sale, in every country HQ Wealth supports.

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current
Updated
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Author
HQ FS
Last verifiedStatus
28-10-2026approved by the owner (accountant), 28-10-2026

Related article: hq-fs.com/blog/crypto-airdrop-taxes

Not tax advice. Rules summarised from official sources, linked where each rule is stated, as verified on the date above. Check each point against the linked source before relying on it.

At a glance#

CountryFree airdropAirdrop for a service/taskHard forkCost base
AustraliaCurrent guidance: ordinary income at AUD market value when received (established token). Initial allocation before trading: not income. Hobby: not assessable. Draft TR 2026/D1 (19-08-2026, not final): investor not taxed on receiptOrdinary income at market valueChain split: not income for a capital-asset holderIncome airdrop: market value at receipt. Draft TR 2026/D1: market value is the first element of cost base. Chain split: AUD 0
CanadaCRA does not address airdrops———
FranceNo official airdrop rule found——Not stated for airdrops. BOFiP general rule for free acquisitions (2019 version): gift/inheritance-duty value, else actual value; nil if no proof
GermanyNo §22 Nr. 3 income. Gift tax may apply (Rz 70–74)§22 Nr. 3 other income at market value; EUR 0 if no market price yetNot income. New coins take the old coins' acquisition date (Rz 67–68)Service airdrop: market value at receipt. Fork: old coins' cost split by market values at the fork
IndonesiaNo rule found——Not needed for the final tax on a sale (tax is on gross value)
IrelandRevenue manual silent———
NetherlandsNo official statement. Box 3 taxes a deemed return on 1 January holdings——Not needed in Box 3 (no gain computation)
Nigeria2026: income on receipt at USD fair market value converted at the CBN/NAFEM rate, if it has realisable value. No realisable value: taxed only on disposal, on full proceeds (NTAA 2025)Same as free airdrop (no effort test stated)Same rule as airdropsWith realisable value: FMV at receipt. Without: effectively nil (full proceeds taxed)
SingaporeNot income (Annex A 1F, 1G)"Could be" taxable incomeNot taxed on receipt. Later disposal taxable if the recipient trades tokens—
South AfricaFortuitous (claim only): capital, not gross income (draft guide)"Designedly sought and worked for": gross income at market valueSame test as airdropsFortuitous: Rnil. Worked for: market value (cost = value of the service). Fork: wording unclear
SwitzerlandIncome from movable assets at market value at allocationSameThe ESTV page and working paper do not mention forksNot used by a private investor (gains tax-free)
United KingdomNo income tax if nothing is given in return and not part of a trade. CGT on later disposalIncome tax (miscellaneous income or trade receipt) if given for, or in expectation of, a serviceValue derives from the original tokens (s43 TCGA). New tokens go into their own s104 poolAirdrop: not stated. Fork: original pool cost apportioned on a just and reasonable basis (s52(4) TCGA); no method prescribed
United StatesAirdrop after a hard fork: ordinary income at USD FMV when received (dominion and control). Other free airdrops: not separately addressed by the IRSOrdinary income at USD FMV (crypto received for services)No new coins received: no income. New coins received: ordinary income at FMVAmount included in income

Patterns#

1. Income at receipt, at market value#

CountryScopeValue at receiptCost baseTax on later sale
SwitzerlandAll airdropsCHF market value at allocationNot used for a private investorPrivate investor: gain tax-free, loss not deductible
United StatesFork airdrops; servicesUSD FMV at dominion and controlAmount included in incomeShort-term (≤ 1 year): ordinary rates 10–37%. Long-term (> 1 year): 0/15/20%
Nigeria (2026)Airdrops and forks with realisable valueUSD FMV × CBN/NAFEM rate; 10% WHT where paid through a VASPFMV at receiptGain added to total income, progressive 0% to 25%
Australia (current guidance)Established-token airdropsAUD market value at receiptMarket value at receiptCGT at marginal rates; 50% discount if held 12 months or more

2. Nothing at receipt, nil cost base#

CountryScopeCost baseTax on later sale
South AfricaFortuitous airdrop (claim only)RnilCapital gain: 40% inclusion at marginal rate. Annual exclusion R40,000 (2025/26), R50,000 (2026/27)
Nigeria (2026)Airdrops and forks without realisable valueEffectively nilTaxed on disposal, on full proceeds
AustraliaChain split, capital-asset holderAUD 0CGT on disposal

3. Nothing at receipt, cost carved out of the parent holding (hard forks)#

4. Depends on effort (service or task given in return)#

CountryTestWith a serviceWithout a service
United KingdomGiven for, or in expectation of, a serviceIncome tax (miscellaneous or trade)No income tax; CGT on later disposal
GermanyRecipient provides a service (Leistung): social post, personal data, uploads§22 Nr. 3 at market value; EUR 0 if no market price; not taxable if all §22 Nr. 3 income in the year is below EUR 256No §22 Nr. 3 income; gift tax may apply
SingaporeIn return for, or in expectation of, a serviceCould be taxable incomeNot income
South Africa"Designedly sought and worked for"Gross income at market valueCapital; base cost Rnil
Australia (draft TR 2026/D1)Paid for services, or carrying on a crypto trading business (KPMG summary)Ordinary income at market valueInvestor not taxed on receipt; market value is first element of cost base

5. No guidance#

What HQ Wealth needs to record#

Data pointNeeded for
Event type: free airdrop, airdrop for a service/task, hard fork, chain splitAll 13
Did the user do anything to receive it (task, social post, personal data, service)UK, DE, SG, ZA, AU (draft TR 2026/D1)
Market value at receipt in local currencyAU, CH, US, DE (service airdrops), ZA (worked for), UK (service airdrops), NG
USD FMV at receipt and the CBN/NAFEM rate on the receipt dateNG (2026)
Whether the token had a market price or realisable value at receiptNG, DE (EUR 0 if no market price)
Receipt timestamp (dominion and control: able to sell or transfer)US; start of holding period for AU, DE, US
Nil-cost flagZA (fortuitous), NG (no realisable value), AU (chain split)
Link from forked coin to parent holding, plus market values of both at the forkDE (cost split by market value), UK (just and reasonable apportionment)
Parent coins' acquisition date carried to forked coinsDE
First distribution before trading vs established tokenAU
Hobby or entertainment vs investmentAU
Trader or business status of the userAU, SG, ZA, CH
Withholding by a VASP (10%)NG (2026)
Tax year of receipt (2025 vs 2026 rules)NG
Holdings on 1 JanuaryNL
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