It's all over the media, but just for the hell of it, here's another take: http://www.startupsmart.com.au/financing-a-business/11-things-you-need-to-know-about-the-atos-bitcoin-guidance/2014082013032.html
Topic: [2014-08-20] Bitcoin is barter for individuals, taxable for business: ATO (Read 681 times)
August 20, 2014, 02:34:32 AM
August 20, 2014, 02:01:11 AM
http://www.zdnet.com/bitcoin-is-barter-for-individuals-taxable-for-business-ato-7000032771/
The Australian Taxation Office (ATO) released its guidance on the taxation treatment of Bitcoin and other crypto-currencies today, timed to coincide with the lodgement of Australians' 2013-2014 income tax returns.
"The guidance paper and draft tax rulings issued today provide certainty for the Australian community on the ATO's treatment of crypto-currencies within the current legislative framework," said senior assistant commissioner Michael Hardy.
The Australian Taxation Office (ATO) released its guidance on the taxation treatment of Bitcoin and other crypto-currencies today, timed to coincide with the lodgement of Australians' 2013-2014 income tax returns.
"The guidance paper and draft tax rulings issued today provide certainty for the Australian community on the ATO's treatment of crypto-currencies within the current legislative framework," said senior assistant commissioner Michael Hardy.
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