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RE: Tax Time With CryptoCurrency In Australia

in #bitcoin7 years ago

In your linked ATO reference, it states:

This Determination applies to years of income commencing both before and after its date of issue

So, it would appear not just to apply to the current FY, unless I'm reading it wrong.

I would think the trading between cryptos would loose the ability to claim personal use and would trigger CGT events if you are an investor and be classed as purchasing and disposing of inventory if you are carrying on a business.

But I'm not accountant, so please don't rely on this.