Australian Tax Office Makes Ruling on the treatment of Bitcoin and other Crypto Currencies

Australia, Bitcoin, Tax, Uncategorized
The Australian Tax Office has now completed its review regarding the treatment of Bitcoin and other cyrpto currencies. Information can be found here.¬†As this page changes somewhat frequently we have preserved the relevant content below (copied 22-July-2014) for retention's sake: Status Consultation completed Purpose To seek input from a business community perspective about the impacts of differing taxation treatments of Bitcoin and other crypto currencies on the Australian business community. Description Industry representatives from professional and Bitcoin associations, and leading businesses involved in the emerging Bitcoin community, met on 29 April 2014. Attendees provided valuable information about their business models and how different tax treatments would impact their clients, members and businesses. Who we consulted Industry representatives from profession and Bitcoin associations. Outcomes The group provided valuable feedback on ATO…
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