“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner.
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With Australia set to introduce new legislation that will empower authorities to monitor and regulate the activities of cryptocurrency traders, many analysts are anticipating that the country’s bitcoin investors will face a crackdown from the the country’s tax office. Also Read:Australian High School to Host Information Night on Cryptocurrencies Australia to Expand Regulatory Domain Over […]
The post Aussie Crypto Traders Expect Tax Crackdown Ahead of New Regulations appeared first on Bitcoin News.
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