September 26, 2022

Ethereum Reader

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Australian Tax Office says it can’t rely on crypto users’ own records

<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvZjc5OWVkNzgtYTdlZS00Njk2LWExZDQtZjM1MzlkNDgzOTU4LmpwZw==.jpg"></p><p>“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner. </p>

“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner.