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.
| Last verified | Status |
|---|---|
| 28-10-2026 | approved 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#
Patterns#
1. Income at receipt, at market value#
| Country | Scope | Value at receipt | Cost base | Tax on later sale |
|---|---|---|---|---|
| Switzerland | All airdrops | CHF market value at allocation | Not used for a private investor | Private investor: gain tax-free, loss not deductible |
| United States | Fork airdrops; services | USD FMV at dominion and control | Amount included in income | Short-term (≤ 1 year): ordinary rates 10–37%. Long-term (> 1 year): 0/15/20% |
| Nigeria (2026) | Airdrops and forks with realisable value | USD FMV × CBN/NAFEM rate; 10% WHT where paid through a VASP | FMV at receipt | Gain added to total income, progressive 0% to 25% |
| Australia (current guidance) | Established-token airdrops | AUD market value at receipt | Market value at receipt | CGT at marginal rates; 50% discount if held 12 months or more |
2. Nothing at receipt, nil cost base#
| Country | Scope | Cost base | Tax on later sale |
|---|---|---|---|
| South Africa | Fortuitous airdrop (claim only) | Rnil | Capital gain: 40% inclusion at marginal rate. Annual exclusion R40,000 (2025/26), R50,000 (2026/27) |
| Nigeria (2026) | Airdrops and forks without realisable value | Effectively nil | Taxed on disposal, on full proceeds |
| Australia | Chain split, capital-asset holder | AUD 0 | CGT on disposal |
3. Nothing at receipt, cost carved out of the parent holding (hard forks)#
| Country | Cost of new coins | Acquisition date of new coins | Tax on later sale |
|---|---|---|---|
| United Kingdom | Original pool cost apportioned, just and reasonable (s52(4) TCGA); new s104 pool | Not stated | CGT 18% / 24%; GBP 3,000 annual exempt amount |
| Germany | Old coins' cost split by market values at the fork | Old coins' acquisition date | §23: taxable if held 1 year or less; tax-free after 1 year; EUR 1,000 Freigrenze on total §23 gains |
| Singapore | — | Not prescribed | Taxable only if the recipient trades tokens |
4. Depends on effort (service or task given in return)#
| Country | Test | With a service | Without a service |
|---|---|---|---|
| United Kingdom | Given for, or in expectation of, a service | Income tax (miscellaneous or trade) | No income tax; CGT on later disposal |
| Germany | Recipient 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 256 | No §22 Nr. 3 income; gift tax may apply |
| Singapore | In return for, or in expectation of, a service | Could be taxable income | Not income |
| South Africa | "Designedly sought and worked for" | Gross income at market value | Capital; base cost Rnil |
| Australia (draft TR 2026/D1) | Paid for services, or carrying on a crypto trading business (KPMG summary) | Ordinary income at market value | Investor not taxed on receipt; market value is first element of cost base |
5. No guidance#
What HQ Wealth needs to record#
| Data point | Needed for |
|---|---|
| Event type: free airdrop, airdrop for a service/task, hard fork, chain split | All 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 currency | AU, CH, US, DE (service airdrops), ZA (worked for), UK (service airdrops), NG |
| USD FMV at receipt and the CBN/NAFEM rate on the receipt date | NG (2026) |
| Whether the token had a market price or realisable value at receipt | NG, 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 flag | ZA (fortuitous), NG (no realisable value), AU (chain split) |
| Link from forked coin to parent holding, plus market values of both at the fork | DE (cost split by market value), UK (just and reasonable apportionment) |
| Parent coins' acquisition date carried to forked coins | DE |
| First distribution before trading vs established token | AU |
| Hobby or entertainment vs investment | AU |
| Trader or business status of the user | AU, SG, ZA, CH |
| Withholding by a VASP (10%) | NG (2026) |
| Tax year of receipt (2025 vs 2026 rules) | NG |
| Holdings on 1 January | NL |
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