Martina
Sat Jun 08 2024
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7 answers
1032
How do I pay tax on crypto in Australia?｜The ATO taxes cryptocurrency as a “capital gains tax (CGT) asset”. This means you must declare the transactions (on your tax return) for every time you traded, sold, or used crypto. The ATO does not see crypto as money, and they don't class it as a foreign currency.
How exactly do I go about paying taxes on cryptocurrency in Australia? I understand that the ATO treats it as a capital gains tax asset, but what specific steps should I follow? Do I need to report every single transaction, including trades, sales, and uses of crypto? Also, since the ATO doesn't consider crypto as money or a foreign currency, does that mean there are additional tax implications I should be aware of? Could you please clarify the process for me?
CryptoVisionary
Sat Jun 08 2024
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7 answers
1508
Is crypto legal in the UK?｜cryptocurrencies are unregulated in the UK; any profits may be subject to capital gains tax (CGT); and. the value of investments is variable.
Hello, I'm curious about the legality of cryptocurrencies in the UK. Could you please clarify the regulatory status of crypto in the country? I've heard that cryptocurrencies are unregulated in the UK, but I'm not entirely sure. Also, I'm interested in knowing if any profits earned through crypto investments are subject to capital gains tax (CGT)? And finally, how volatile are the values of crypto investments in general? Could you please elaborate on these points?
RubyGlider
Fri Jun 07 2024
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6 answers
1460
Does Australia tax Bitcoin?｜. In crypto investors' ideal world, taxes wouldn't apply to digital currency; however, as the federal government considers your crypto s to be assets, they fall under the Capital Gains Tax (CGT) umbrella.Yes , you must pay tax on your crypto if you hold it as an
Does Australia levy taxes on Bitcoin transactions? In the utopian vision of many crypto investors, taxes shouldn't encumber digital currencies. But in reality, since the Australian federal government treats cryptocurrencies as assets, they're subject to Capital Gains Tax (CGT) regulations. Therefore, am I correct in assuming that if I hold Bitcoin as an investment, I'm obligated to pay taxes on it?
HanRiverVision
Fri Jun 07 2024
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7 answers
1117
Is crypto taxable in Australia?｜. In crypto investors' ideal world, taxes wouldn't apply to digital currency; however, as the federal government considers your crypto s to be assets, they fall under the Capital Gains Tax (CGT) umbrella. Yes, you must pay tax on your crypto if you hold it as an
Could you please clarify, is cryptocurrency taxable in Australia? I've heard conflicting opinions on this matter. In the ideal scenario for crypto investors, taxes wouldn't be imposed on digital currencies. But as I understand, the Australian federal government considers cryptocurrencies as assets. Does this mean they are subject to Capital Gains Tax (CGT)? In essence, am I obligated to pay taxes on my crypto holdings?
