I saw a guy claiming that this would mean Australia does not tax bitcoin, and I think this is not the case at all, so study how taxes work because taxes still apply.
I guess this means that in Australia you don't have to pay nothing but capital gains if you cash out in AUS (as it should be, because having to keep track of every single crypto trade you do is an act of insanity)
Topic: Bitcoin treated as money in Australia from 1. july - page 7. (Read 6122 times)
This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia!
Yah many countries will certainly follow. i believe that it all started with japan when they announced that they are gonna accept bitcoin and now we are hearing some good feedbacks from them so obviously other countries are hearing them also . I hope we will got some good feedbacks about australia
too because if all countries has reported to have made improvements when they started using bitcoin it can be easier for other countries to do the
same thing.
These are not much but maybe it can be a great start?
london- Blockchain Startup Teams Up With London Designer To Transform Fashion Industry
russia- Bitcoin Coming To Russian E-Commerce Giant Ulmart Starting September 1
france- France's Government is Beginning a Blockchain Research Effort
This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia!
Good news indeed but lets still wait until it is fully implemented in Australia and if this is indeed true then this will also drive the price of Bitcoin to another level as there will bean increase of demand of Bitcoin in that Country both for old user and new users. This is another reason to hold on to what you have.
Yes, this is another good news for bitcoin after the one about bitcoin accepted as legal payment in japan. Australia is not the country i expected to accept bitcoin this fast but i don't mind either as more demand is good for bitcoin. I hope with this the demand will continue to increase and bitcoin will become popular in australia.
Well, I really not read that news but if it is true than it is incredible news for bitcoin and also for bitcoin's users. Because it will be a reason to grow the price of bitcoin and definitely it would also help for those countries who are not allowing the bitcoin to accept in government level.
I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
+article about itThat's actually pretty cool. Glad to see that some parts of the anglosphere are getting interested in it and are willing to start looking into Bitcoin as something of value and validity instead of something that is working directly against government interests.
However, it could always be because they want the Chinese crypto market :^)
I werent expecting Australia to be the first to legalize bitcoin at all, but i believe once they really make those, we will see others countries adopting it, otherwise i believe its time to moove country. I do hope on the next months, or atleast till 2020 all countries does recognize bitcoin, with those massive support bitcoin will be no more a dark currencie, and can become an investment option, news can talk about its history.
This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin.
good point but it happens eventually.
these things are a slow process of people adopting bitcoin and merchants slowly add bitcoin payment for fun at first (like those merchants that are interested in bitcoin) then more people adopt it and more merchants accept it and then all of a sudden (in a year or two) you see a lot of adoption and growth.
the process is like one of those S shape charts with a slow initiation process and then a high speed.
I agree its a slow process, and fixing the bitcoin issues is also a slow process since consensus takes a long time to reach when its grown so big already. I just hope the scaling issues are solved faster than the merchants wanting to start accepting those payments.
This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin.
good point but it happens eventually.
these things are a slow process of people adopting bitcoin and merchants slowly add bitcoin payment for fun at first (like those merchants that are interested in bitcoin) then more people adopt it and more merchants accept it and then all of a sudden (in a year or two) you see a lot of adoption and growth.
the process is like one of those S shape charts with a slow initiation process and then a high speed.
This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin.
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good news and gladly i know about this news so we can see more country that will use bitcoin and will be integrated with the economy of the country. i think in the near future, there are more country that will approve bitcoin so many people will use bitcoin and spread about bitcoin in many places.
Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process.
Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies.
Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies.
I initially thought that Australia will decide the fate of bitcoin on July 1, I may have misread it. And if this true, then bitcoin price will have new ATH everyday. 
moving forward.
This is really a very very good news for all bitcoin enthusiast out there. We now have the backing of 2 economic progressive country now. Bitcoin is truly transforming and changing the economics globally. Maybe some of those that predict the bitcoin price of $5000-$10000 will be realized sooner than we think.
moving forward.This is really a very very good news for all bitcoin enthusiast out there. We now have the backing of 2 economic progressive country now. Bitcoin is truly transforming and changing the economics globally. Maybe some of those that predict the bitcoin price of $5000-$10000 will be realized sooner than we think.
I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
Are you sure you read correctly? Accepting bitcoin as just a currency simply means that transactions using bitcoin from that point onwards will simply be taxed once, and not twice that it has currently been done for most bitcoin transactions.
Holy ****!
Another one. Thanks for this update will be reading it later.
This is one big leap for bitcoin again.
What will be its impact with bitcoin value? That is one good question when this news spreads out.
Bitcoin holders might tighten their wallets into not spending even just a satoshi because of this great news.
There will be a lot of demands when the news spreads in Oceania too. People will be buying and might want to hold some too.
This is really a great year for bitcoin.
Another one. Thanks for this update will be reading it later.
This is one big leap for bitcoin again.
What will be its impact with bitcoin value? That is one good question when this news spreads out.
Bitcoin holders might tighten their wallets into not spending even just a satoshi because of this great news.
There will be a lot of demands when the news spreads in Oceania too. People will be buying and might want to hold some too.
This is really a great year for bitcoin.
Great news and we will be expecting more soon. I hope my neighboring countries will officially accept too so I can just easily hop in.
Goodnews for all new coming bitcoin users and all users who been in bitcoins for a long time,see what happen after japan accepted bitcoin price pump due to increase in merchants which may also happen when it is launched in australia
This is just the start of many good things to come for BTC. just cant imagine when China, Africa and India will legitimize bitcoin. the price of 100,000 is very possible.
I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
Nice. This just proves btc is a growing physical asset. Well its better for them because they are considered a 1st world country and they wont be needing tax. But in some 3rd world countries where taxes is a way for the government to give back for the country then it would take long period before the start to recognize btc. Business firms may adapt it but it's not easy for government to input tax on it.
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