Cryptocurrency Q&A Is there capital gains tax on crypto in Australia?

Is there capital gains tax on crypto in Australia?

Federica Federica Fri Mar 29 2024 | 7 answers 1334
Hello, I am interested in investing in cryptocurrencies and would like to know if there is any capital gains tax applicable to crypto assets in Australia. Could you please provide me with some information about the tax implications of crypto transactions in Australia? I would appreciate it if you could also explain how the tax is calculated and any specific rules or exceptions that may apply. Thank you for your assistance. Is there capital gains tax on crypto in Australia?

7 answers

KpopStarletShineBrightness KpopStarletShineBrightness Sun Mar 31 2024
BTCC's services aim to make it easier for users to buy, sell, and trade cryptocurrencies securely and efficiently.

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Elena Elena Sun Mar 31 2024
This taxation applies whenever a transaction involving cryptocurrency is made, whether it's trading, selling, or using the crypto.

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SakuraWhisper SakuraWhisper Sun Mar 31 2024
The ATO does not consider cryptocurrency as money, nor does it classify it as a foreign currency.

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Lorenzo Lorenzo Sun Mar 31 2024
Taxpayers are required to declare all such transactions on their tax returns, ensuring transparency and compliance with tax regulations.

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Rosalia Rosalia Sun Mar 31 2024
Cryptocurrency is taxed by the ATO as a capital gains tax (CGT) asset.

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