Crypto-Currencies and Taxation


#1

I came across an interesting article today from back in May that describes an announcement that crypto-currency purchases will not be subject to GST from July 1st this year. I can’t seem to find out if this ruling is actually now in place though…anyone hear about it?

While we’re on the topic, I’d be really interested in hearing the group’s views on taxing crypto-currencies generally. Seems to me that if and when they hit the mainstream, they’re going to be extremely hard to apply tax to.


(Andrew Downing) #2

https://pirateparty.org.au/wiki/Platform#Distributed_digital_currencies


#3

Cool, thanks :slight_smile:


(twisty) #4

A’hoy,

Does anyone have/use crypto-currency? What do you recommend?


#5

I haven’t bought yet but have been following Bitcoin and Ethereum for a few months. Both have risen dramatically this year but have fallen back a bit recently. Check out the charts and latest prices here:

Like everyone, I wish I had bought when I first heard about crypto-currency!


(twisty) #6

same. sad.

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(ashkbne) #7

Has anyone got a good understanding of these laws yet? I’m trying to pull together a guide of tax liabilities with regard to cryptocurrency and looking for people who have actually done their tax return and done this?