According to the Australian Tax Office, Bitcoin is considered an asset for capital gains tax (CGT) purposes. That means a CGT event occurs every time you dispose of your cryptocurrency. That includes trading it for another cryptocurrency. Most of the time (for ordinary investors) the ATO treats buying and selling cryptocurrency in same way it treats buying and selling shares.
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Yes. SMSF investors have made a remarkable contribution to the groundswell in popularity of cryptocurrency in Australia, with the number of Aussies holding crypto almost tripling since January, 2018. Independent Reserve has seen the astonishing growth in this sector first hand and provides services to thousands SMSF customers. Do-it-yourself superannuation funds have evolved over the […]
KPMG Australia and Independent Reserve, the largest Australian cryptocurrency exchange, today announced the launch of a new tool to help the traders of cryptocurrencies better understand their tax liabilities. The Crypto Tax Estimator developed by KPMG is a digital tool that plugs directly into Independent Reserve’s user interface, allowing traders to estimate tax obligations on […]
