Topic: Bitcoin could be considered legal tender in Australia (Read 1834 times)
for me , it's not a good news . bitcoin doesn't need anyone's approval.
Bitcoin: tax me if you can
Australia: no bitcoin without tax
I doubt that bitcoin would be taxed any differently then their fiat dollars are taxed (Australian dollars). Merchants would likely have the same obligation to pay the same sales tax on sales of goods and services. Employees would have he same obligation of paying income taxes on income. The only difference is the mode of payment. Australia: no bitcoin without tax
But it'd be much easier for them to not declare those sales, which is great for citizens and bad for the government parasites.
Good news. There's a lot going on behind the scenes.
Bitcoin: tax me if you can
Australia: no bitcoin without tax
I doubt that bitcoin would be taxed any differently then their fiat dollars are taxed (Australian dollars). Merchants would likely have the same obligation to pay the same sales tax on sales of goods and services. Employees would have he same obligation of paying income taxes on income. The only difference is the mode of payment. Australia: no bitcoin without tax
Regulate cryptos = tax cryptos
No way we can get full mainstream adoption without gov's wanting a piece of the action. Other cryptos at a later date can be created to replace where bitcoin is at right now.
Hard to argue against this logic.
Governments will promote their preferred currency by accepting and paying in that currency, as well as only accept taxes in their preferred currency.
CK
As much as I feel this is a great thing for bitcoin I can't help but feel that the Australian Government may be doing this to try and make it so they can begin taxing it to make money off it. I really hope I am wrong though.
I hope not.
Bitcoin being legal tender would accelerate the demise of national fiat currencies. Either government doesn't notice it, doesn't perceive it as threat, or they will inject barbarian regulations to control and tax every Satoshi spend.
You can't be paranoid enough when it comes to governments...
ya.ya.yo!
Regulate cryptos = tax cryptos
No way we can get full mainstream adoption without gov's wanting a piece of the action. Other cryptos at a later date can be created to replace where bitcoin is at right now.
Australian governments viewpoint is:
http://www.business.gov.au/news-and-updates/News-and-features/Pages/bitcoin-for-businesses.aspx
"Businesses don’t have to accept payment by digital currency as it isn’t considered legal tender."
There you have it, it isn't legal tender.
CK
http://www.business.gov.au/news-and-updates/News-and-features/Pages/bitcoin-for-businesses.aspx
"Businesses don’t have to accept payment by digital currency as it isn’t considered legal tender."
There you have it, it isn't legal tender.
CK
Wow it is incredible
Australia is always on the head of good changes
Australia is always on the head of good changes
That's why it's considered as one of the freest countries in the world. http://www.heritage.org/index/ranking
Wasn't Australia talking about banning Bitcoin?
Wow this is big, such a huge leap forward for bitcoin, if Australia does it I'd say more and more countries will follow 
As much as I feel this is a great thing for bitcoin I can't help but feel that the Australian Government may be doing this to try and make it so they can begin taxing it to make money off it. I really hope I am wrong though.
I hope not.
Bitcoin being legal tender would accelerate the demise of national fiat currencies. Either government doesn't notice it, doesn't perceive it as threat, or they will inject barbarian regulations to control and tax every Satoshi spend.
You can't be paranoid enough when it comes to governments...
ya.ya.yo!
Sounds like it might be heading in the right direction, one day....
If I had the option of paying for a train ticket with $ or BTC I would choose $$... I get it though.. BTC could be massive (for everyone else heh) if it goes ahead at some point... Things people only ever dreamed might come true.
The next <3 years could be a wild ride.
*edit* Thinking about it.... Australia will do something to screw it up.. or make it retarded...
If I had the option of paying for a train ticket with $ or BTC I would choose $$... I get it though.. BTC could be massive (for everyone else heh) if it goes ahead at some point... Things people only ever dreamed might come true.
The next <3 years could be a wild ride.
*edit* Thinking about it.... Australia will do something to screw it up.. or make it retarded...
Wow it is incredible
Australia is always on the head of good changes
Australia is always on the head of good changes
This is a BIG one:
http://www.theguardian.com/technology/2014/aug/29/bitcoin-could-be-considered-legal-tender-australian-tax-official-says
http://www.theguardian.com/technology/2014/aug/29/bitcoin-could-be-considered-legal-tender-australian-tax-official-says
That would be great. Governments shouldn't impose any currency, every citizen should be free to use any currency as he likes.
This is a BIG one:
http://www.theguardian.com/technology/2014/aug/29/bitcoin-could-be-considered-legal-tender-australian-tax-official-says
http://www.theguardian.com/technology/2014/aug/29/bitcoin-could-be-considered-legal-tender-australian-tax-official-says
Australia government is more progressive than China and US then.
If they know they tide of virtual can't be stop, they might as well embrace it and get some benefit from it.
When was bitcoin illegal? 
Anyways its good Bitcoin will be getting legal rights so people can sue someone in case of theft.
Anyways its good Bitcoin will be getting legal rights so people can sue someone in case of theft.
That's another great step towards bitcoin promotion.
Long live Bitcoin! To the moon!
Long live Bitcoin! To the moon!
Bitcoin: tax me if you can
Australia: no bitcoin without tax
Australia: no bitcoin without tax
As much as I feel this is a great thing for bitcoin I can't help but feel that the Australian Government may be doing this to try and make it so they can begin taxing it to make money off it. I really hope I am wrong though.
Its the same with cash. Gov attitude is carrot and stick. Here is your BAS, go and fill it out correctly. If you don't and get caught...
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