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Therefore; any comparison between cryptocurrencies and the dollar, euro or pound should be redundant. At best, cryptocurrency should be commonly known as a crypto asset, based on how it comes to be. Further, the ATO said it would continue to review and update its guidance related to cryptocurrency.
We can help. Tax treatment of cryptocurrencies.
GST and digital currency. 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.
Everybody involved in acquiring or disposing of cryptocurrency needs to keep records in relation to their cryptocurrency transactions. If you have dealt with a foreign exchange or cryptocurrency there may also be taxation consequences for your transactions in the foreign country. Show download pdf controls. Show print controls.