Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: sirty143 on May 29, 2021, 03:21:18 PM

Title: Australian tax office: Report crypto profits or else
Post by: sirty143 on May 29, 2021, 03:21:18 PM

(https://i.imgur.com/qkcuu50m.jpg)

The Australian Taxation Office has urged citizens to accurately report any profits made in the process of trading cryptocurrencies like Bitcoin (BTC), anticipating tax filings from a pool of 600,000 Aussies who it now believes to be invested in digital assets. The ATO wants to rid citizens of the myth that cryptocurrency profits are tax-free... See more for yourself here (https://cointelegraph.com/news/australian-tax-office-report-crypto-profits-or-else).

Your opinion is greatly appreciated.

Title: Re: Australian tax office: Report crypto profits or else
Post by: Toshko on May 29, 2021, 05:18:48 PM

It is better to report crypto of course. When your assets grow it will be harder and more expensive to legalise them.

Title: Re: Australian tax office: Report crypto profits or else
Post by: Richard_1 on May 30, 2021, 09:45:12 AM

Which state will refuse the opportunity to introduce additional tax levies from its citizens in order to fill the state budget? Australia is also no exception. And now a pleasant surprise for the Austalians, now they have to pay tax on cryptocurrency trading.