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Key Highlights

• Digital assets include domains, online wallets, subscriptions, and income platforms
• Forgotten assets can result in unclaimed income or tax reporting gaps
• Managing domain names is one example of staying on top of digital ownership
• A quick digital audit before tax time helps reduce costs and avoid mistakes

When you think about what needs sorting before tax time, your mind probably goes straight to invoices, receipts, or maybe that shoebox of expense records. What usually doesn’t make the list? Digital assets. Not just the obvious ones like crypto — we’re talking about the forgotten stuff. That domain you bought five years ago for a side project. The PayPal account with a lingering balance. A design software subscription that still bills you every quarter.

These digital remnants of past ideas or old routines might seem trivial, but they don’t disappear just because you’ve moved on. They can carry real financial value, attract ongoing charges, and in some cases, require reporting to the ATO. The more digital our lives become, the easier it is to overlook assets that live behind logins and email alerts.

You don’t need to be in tech or business to have digital assets. If you've ever bought a domain, earned money online, used cloud tools, or sold something through a digital platform, you’re in the picture. And what you’ve forgotten could quietly affect your records — especially as the ATO starts looking more closely at digital activity.

What Counts as a Digital Asset (and Why the ATO Cares)

Digital assets aren’t limited to investment tools like crypto or NFTs. In tax terms, they can include anything owned or controlled in digital form that holds value or generates income. Think domain names, PayPal and Stripe accounts, cloud storage credits, software subscriptions, digital products, online memberships and loyalty point balances.

The ATO has already flagged digital asset tracking as a growing focus area. They're paying closer attention to undeclared online income, capital gains on digital sales, and deductions linked to digital tools. That includes small business operators, sole traders, side hustlers, and even individuals who’ve passively held online assets for years.

Unlike physical assets, digital ones tend to stay hidden — until they pop up in bank statements or audit trails. That’s why the ATO’s data-matching programs increasingly scan for payment platform activity, crypto wallets, and business tools with financial links. Whether or not the asset is active, ownership alone may carry tax consequences.

Common Digital Assets Australians Forget They Own

It’s surprisingly easy to lose track of what’s still in your name. A domain purchased during a uni project. A few hundred dollars sitting in an old PayPal account. A Canva Pro subscription still charging your card. Accounts on platforms like Etsy or Gumroad with small earnings that never made it to your bank.

Crypto wallets with forgotten tokens. Old eCommerce storefronts. Cloud services or website hosting packages that auto-renew. Affiliate platform earnings you didn’t realise were taxable. These aren’t niche problems — they’re everyday scenarios. And while none of them might seem significant on their own, they can add up to messy tax returns or missed deductions.

Tax Time Risks of Forgotten Digital Assets

The ATO doesn’t just care about what you’re actively using. They care about what’s in your name, what earns income, and what changes in value. If you’ve sold a domain, cashed out a token, or let a digital asset expire after it had been linked to business activity, there may be tax implications — even if you forgot it was there.

You might be paying for things you no longer use, like subscriptions or storage. You might also be entitled to deductions you’re not claiming, simply because you overlooked a tool that’s technically still part of your workflow. If you’ve made money through digital platforms but didn’t report it, you could end up under-declaring income.

How Domain Names Fit into the Bigger Picture

Domain names are a great example. Plenty of Australians own domains they haven’t used in years. Some were set up for old blogs or side businesses, others for ideas that never launched. But if those domains are still renewing, or were ever linked to a business ABN, they can’t be ignored at tax time.

Effectively managing domain names is a key part of the wider digital clean-up. Knowing what you still control, what’s worth keeping, and what should be written off or sold makes your tax position clearer. Domains can sometimes hold resale value too, which may attract capital gains if sold.

Simple Steps to Reclaim Control Before Tax Time

A simple digital audit is all it takes to stay ahead. Go through your inbox for old subscription receipts. Log into your domain registrar or hosting provider to see what’s still active. Check balances on PayPal, crypto wallets, and online marketplaces. Make note of what’s linked to your business, what you’re still paying for, and anything with income potential.

Work with an accountant who understands digital asset reporting in Australia. The ATO’s approach to digital income is tightening, and guessing your way through it won’t cut it anymore. Even if an asset doesn’t trigger a tax event this year, keeping it on your radar ensures you’re ready when that changes.

Final Thoughts

Digital assets have become part of modern financial life — but they’re often treated like digital dust. Whether it's a domain quietly auto-renewing, a side hustle account you forgot about, or a few dollars in a wallet you haven’t touched in years, the ATO may still want to know about it.

It’s worth taking time before June 30 to look at what you still own online. Because if it holds value, costs money, or ever touched your business activity, it matters more than you think.

31 December 2025
Dominic Vivarini 
accountantsdaily.com.au