Cryptocurrencies, digital currencies, and cryptocurrency exchanges are legal in Australia, and the country has been progressive in its implementation of.
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Australia among first to introduce bitcoin regulations. To read more, please click link below… Source: Australia among first to introduce bitcoin regulations Finance Business Review Australia Join our Newsletter:. FinTech Tags: bitcoin , blockchain , cryptocurrency , Cyber Security , foreign exchange.
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The creation, trade and use of cryptocurrency is rapidly evolving. This information is our current view of the income tax implications of common transactions involving cryptocurrency. Any reference to 'cryptocurrency' in this guidance refers to Bitcoin, or other crypto or digital currencies that have similar characteristics as Bitcoin.
If you are involved in acquiring or disposing of cryptocurrency, you need to be aware of the tax consequences. These vary depending on the nature of your circumstances.
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Everybody involved in acquiring or disposing of cryptocurrency needs to keep records in relation to their cryptocurrency transactions.