INTHEBLACK November 2021 - Magazine - Page 26
F E AT U R E
// TA X I N G C RY P T O C U R R E N C Y G A I N S
AT A G L A N C E
According to the
Australian Taxation
Office, more than
600,000 taxpayers have
invested in crypto assets
in recent years, and many
have failed to declare
their capital gains.
The technology
that supports
cryptocurrencies is
relatively new, but the tax
laws that apply are well
established under capital
gains tax provisions for
cryptocurrency investors.
Australia is supporting
work under way at the
Organisation for
Economic Co-operation
and Development to
develop a tax
transparency framework
for crypto assets and
digital money products.
CLICK HERE
TO ACCESS
ATO factsheet on
crypto assets
26 ITB November 2021
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