Federico
Sat Jun 08 2024
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5 answers
956
What is the crypto rule in Australia?｜If cryptocurrency is not acquired or held in the course of carrying on a business, or as part of an isolated transaction with a profit-making intention, a profit on sale or disposal should be treated as a capital gain. In this regard, the ATO has indicated that cryptocurrency is a capital gains tax (CGT) asset.
Could you please elaborate on the crypto rule in Australia? If someone acquires or holds cryptocurrency not for business purposes or as part of a standalone transaction aimed at profit, how would the proceeds from selling or disposing of it be taxed? Has the Australian Taxation Office (ATO) provided any clarity on this matter? Is cryptocurrency considered a capital gains tax (CGT) asset in Australia?
Alessandra
Fri Mar 29 2024
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6 answers
964
What is the crypto rule in Australia?
Excuse me, I'm new to the world of cryptocurrencies and I'm interested in learning more about the specific rules and regulations in Australia. Could you please explain to me what the crypto rule is in Australia? I understand that each country has its own set of guidelines and I would like to ensure that I am complying with the laws of Australia. Thank you for your time and assistance.
