What are the tax rules for cryptocurrency investors in Australia?

1 answers

• May 15, 2022 · 3 years ago
  When it comes to cryptocurrency investments in Australia, the tax rules can be a bit tricky. The Australian Taxation Office (ATO) treats cryptocurrency as an asset, which means you may have to pay capital gains tax (CGT) when you sell or dispose of your crypto. It's important to keep detailed records of your transactions, including the date of acquisition, the value in Australian dollars, and the purpose of the transaction. If you hold your cryptocurrency for more than 12 months, you may be eligible for a CGT discount. Remember, always consult with a tax professional to ensure you're meeting your obligations.
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