New to Crypto Accounting trying to understand short term and long term gains

This may be a silly question. I am based in Austria, and I believed that if you held the crypto for longer than a year then they were not taxable ? Therefore what is a short or long term gain ?

Hello Mike,

yes it depends all on the holding period of your asset in the wallet. If the holding period is longer than one year, the proceeds are not taxable and if you sell the cryptocurrency within one year, the proceeds are taxable. Please note that from 01.03.2022 the tax law in Austria will change and the holding period will be replaced by a fix rate of 27,5% on your proceeds.