I’ve started investing and I’m unsure about the tax implications.
Clarifying the tax treatment of emerging assets like cryptocurrencies in Australia.
Anonymous Answered question July 19, 2024
I jumped into crypto last year and quickly realized the tax situation was complex. In Australia, the ATO generally treats crypto as an asset for capital gains tax purposes, but it can be income in some cases. I ended up consulting with a tax advisor to make sure I was reporting correctly. A friend who uses Austral Accountants mentioned they have specialists who are up-to-date on crypto tax rules – might be a good resource if you’re looking for expert guidance.
Anonymous Answered question July 19, 2024
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