cryptocurrency

Cryptocurrency And Taxes | What You Need To Know

Crytocurrency tax treatment and compliance Cryptocurrencies, once again surging in popularity, have a unique tax treatment that every taxpayer dealing with cryptocurrency should be aware of. It’s been more than 10-years since the advent of bitcoin and the term “cryptocurrency” entered the public consciousness. However, neither bitcoin nor the many thousands of cryptocurrencies that have […]

Cryptocurrency And Taxes | What You Need To Know Read More »

The ATO collects records from DSPs as part of the new data-matching program

ATO’s New Cryptocurrency Data Matching [For Tax Compliance]

ATO receives cryptocurrency data The Australian Taxation Office (ATO) is collecting bulk records from Australian cryptocurrency designated service providers (DSPs) as part of a data matching program to ensure people trading in cryptocurrency are paying the right amount of tax. Participation of crypto-assets has seen significant growth in recent years. It is estimated that 500,000

ATO’s New Cryptocurrency Data Matching [For Tax Compliance] Read More »

The ATO has recently updated the cryptocurrency guidelines - image

Tax Treatment Of Cryptocurrencies (Updates)

ATO updates crypto guidelines The ATO has updated its guidelines on the tax treatment of cryptocurrencies, including issues about exchanging one cryptocurrency for another and record-keeping requirements. Trading stock rules apply to cryptocurrency transactions In an update on the ATO website following its earlier guidance in July, the tax office has advised that if you

Tax Treatment Of Cryptocurrencies (Updates) Read More »