Michele
Fri Jun 07 2024
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5 answers
859
Does Binance report to ATO?｜, and the ATO has been providing crypto tax guidance since 2014.Yes, Binance reports user transaction data to the ATO
Does Binance have any reporting obligations to the Australian Taxation Office (ATO)? Given that the ATO has been issuing crypto tax guidance since 2014, it seems that cryptocurrency transactions would be subject to some form of tax regulation. I'm curious to know if Binance, as a major cryptocurrency exchange, is required to submit user transaction data to the ATO for tax purposes. Is this information publicly available, or does it fall under confidentiality agreements? If Binance does report to the ATO, how does this impact users' privacy and security? I'd appreciate any clarification on this matter.
Sara
Fri Jun 07 2024
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5 answers
1128
Does Binance Australia report to ATO?｜, and the ATO has been providing crypto tax guidance since 2014.Yes, Binance reports user transaction data to the ATO
Does Binance Australia comply with the tax regulations in Australia by submitting user transaction data to the Australian Taxation Office (ATO)? Given that the ATO has been providing guidance on cryptocurrency taxation since 2014, it seems important for crypto exchanges operating in Australia to adhere to these regulations. So, does Binance Australia indeed report user transaction data to the ATO? And if so, how does this ensure that Binance Australia is in compliance with Australian tax laws?
