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- The Australian Financial Review
- Bitcoin property: Australian sellers accepting crypto despite volatility
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The Australian Financial Review
And so while cryptocurrency transactions might take place on the blockchain, the government needs to be notified in order for off-chain transfers of ownership to be registered in government ledgers, and so that they can take their cut of the proceeds in stamp duty [in AUD]. Join 1. Coronavirus Covid Vaccine. Australia will host the world's first cryptocurrency property auction.
Bitcoin property: Australian sellers accepting crypto despite volatility
Cait Kelly Reporter. Follow Us. View Comments. Trending Now. First the love song, then the species: How an Australian bird might be lost. Paula Matthewson: Scott Morrison is all hollow words and crocodile tears. Get help. Home Blockchain Cryptocurrency Bitcoin property: Australian sellers accepting crypto despite volatility.
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PowerLedger: Why you should keep the faith March 31, Businesses will need to record the value of bitcoin transactions as a part of their ordinary income. They must also charge GST when they supply bitcoin and may be subject to GST when receiving bitcoin in return for goods and services.
She has covered state politics, health and consumer affairs.
Australian Tax Office decides bitcoins are assets, not currency. The Sydney Morning Herald. By Esther Han Updated August 21, — 2. Save Log in , register or subscribe to save articles for later.
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Normal text size Larger text size Very large text size. As for consumers, he expects the ruling to hinder the rate of adoption among Australians. Did the ATO get it right?