Crypto Tax Australia Blog
29 FOLLOWERS
Get all the latest up-to-date information and tax advice on crypto, blockchain, DeFi, and NFTs in Australia on Crypto Tax Australia Blog! We provide tailored and proactive Cryptocurrency Taxation advice to our clients, whether you are an investor or trader anywhere throughout Australia. We work closely with you to find the best solutions and offer practical advice on your circumstances.
Crypto Tax Australia Blog
1y ago
DeFi or Decentralized Finance is a blockchain niche where all financial services are provided in a decentralized manner and executed in an open, trustless, and permissionless manner. The latter three traits are the core of DeFi.
Openness: This means that all projects would be developed in an open-source format while being transparent to the world.
Trustless: This means that any operation or task can be carried out without the need for a trusted third party’s intervention.
Permissionless: This means that no permission is required by any authority or governing bod ..read more
Crypto Tax Australia Blog
1y ago
Since 2019, the Australian government has taken the necessary steps to gain visibility in the cryptocurrency space, monitor it, and even control it. For instance, the government started collecting data in May 2019 from Designated Service Providers (DSPs) to ensure that people trading in cryptocurrencies are paying taxes properly. The same attention is being shown to NFTs as taxable assets in Australia.
In 2020, the government issued a regulatory law that banned privacy coins such as Monero and ordered crypto exchanges to delist them. These measures indicate that the governm ..read more
Crypto Tax Australia Blog
1y ago
The Australian Taxation Office (ATO) released the cryptocurrency taxation laws some time ago. This passing of the tax law was a predictable move by the government, considering they have been rallying to regulate cryptocurrencies and reform the laws regarding blockchain assets.
Australia has the third-highest adoption rate of cryptocurrency globally, and Bitcoin is the highest-held asset. So naturally, the regulatory and taxation laws were going happen, it was only a matter of time.
If the cryptocurrency tax laws seem confusing to you and you want to understand them, you’ve come to the ri ..read more