Tag: tax agent

Tax and Cryptocurrency

Tax and Cryptocurrency

Cryptocurrency is a rapidly evolving area with significant tax implications in Australia. As it stands, most transactions involving cryptocurrency can trigger capital gains tax or be treated as ordinary income. It’s essential to maintain thorough records and stay informed about the ATO’s current stance on cryptocurrency. Given the complexities involved, seeking advice from a tax professional is highly recommended, especially if you engage in frequent or high-volume crypto transactions. This ensures compliance with Australian tax laws and helps in effective tax planning and reporting.

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