I think the ATO's position here is.... questionable... to put it politely. It also directly affects me, so I will have a dig into this. I am yet to find a good source of the ATO's position where they ...
Sorry but the ATO won’t care if you decide YOU are right, or if I am right. It will be what they decide.
On a side note, it will be very interesting to see how the court case progresses in regards to Victorian Magistrate Michael O’Connell, who ruled that bitcoin is a currency like the dollar and should be exempt from CGT…
Of course this is not applicable yet, and the ATO will fight it all the way tooth and nail I’m sure.
I swear, if Australia was able to pull its thumb out and take bitcoin friendly stance, the amount of capital that would flow here from all over the world would be mind boggling!
On a side note, it will be very interesting to see how the court case progresses in regards to Victorian Magistrate Michael O’Connell, who ruled that bitcoin is a currency like the dollar and should be exempt from CGT…
Of course this is not applicable yet, and the ATO will fight it all the way tooth and nail I’m sure.
I swear, if Australia was able to pull its thumb out and take bitcoin friendly stance, the amount of capital that would flow here from all over the world would be mind boggling!
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