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Do I need to pay crypto taxes in Australia?

Ben RobertsKnowledge base

Do I need to pay tax on Bitcoin and crypto in Australia?

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.

Tax Estimator

Independent ReserveNews

Independent Reserve launches exclusive Tax Estimator by KPMG

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 […]