CryptoProphet
Fri Jun 07 2024
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6 answers
1088
Is crypto taxable in Australia?｜In Australia, if you're selling, trading, spending, or gifting crypto as an individual (investor), the net capital gain made is paid at your Income Tax rate.
Could you kindly elaborate on the taxability of cryptocurrencies in Australia? I'm interested to know how the system works. For instance, if an individual investor decides to sell, trade, spend, or gift their crypto assets, how does the calculation of net capital gain occur, and how is it taxed according to the Income Tax rate? Is there a specific threshold or exemption that applies? It would be helpful if you could provide some clarity on this matter. Thank you.
