The Australian Tax Office (ATO) is establishing a task force to monitor cryptocurrency transactions, according to a report in The Australian Financial Review.
The taskforce will seek to ensure cryptocurrency investors are paying the correct amount of tax. It is stated that a team of specialists across tax law, technology, banking and finance will devise strategies to follow the money on gains made from investment in digital currency.
Source: https://hype.codes/australian-tax-office-impose-tax-cryptocurrency
The taskforce will seek to ensure cryptocurrency investors are paying the correct amount of tax. It is stated that a team of specialists across tax law, technology, banking and finance will devise strategies to follow the money on gains made from investment in digital currency.
Source: https://hype.codes/australian-tax-office-impose-tax-cryptocurrency
It is not a tax on cryptocurrency; it is a tax on income / gains made through cryptocurrencies. There is a big difference between the two. Governments, which want to kill Bitcoin, might impose a sales tax or some other form of tax on any bitcoin transaction. This is not such a move and seeks only to tax the profits.
