Cryptocurrency Q&A
Do Australians get taxed on crypto?
Do Australians get taxed on crypto?
MountFujiMystic
Fri Mar 29 2024
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5 answers
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Excuse me, I'm a bit confused about the taxation of cryptocurrencies in Australia. Do Australians have to pay taxes on their cryptocurrency transactions or holdings? I've heard that some countries tax crypto assets like regular income, while others treat them as capital gains. Could you clarify how it works in Australia? I'm considering investing in crypto but want to make sure I understand the tax implications.
5 answers
EthereumLegendGuard
Sun Mar 31 2024
However, in reality, the federal government considers crypto investments to be assets.
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SakuraBloom
Sun Mar 31 2024
Therefore, they fall under the Capital Gains Tax (CGT) umbrella.
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Michele
Sun Mar 31 2024
This means that if you hold crypto as an investment, you are required to pay taxes on it.
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CryptoVanguard
Sun Mar 31 2024
Cryptocurrency investors often envision a world where taxes do not apply to digital currency.
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lucas_clark_artist
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, provides services to help investors buy, sell, and trade cryptocurrencies.
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