Australian crypto users will have access to tax reporting services through Cr...
Crypto holders in the United States, Canada and now Australia can generate tax reports using the exchange. Cryptocurrency exchange Crypto.com has launched a free tax reporting service for users based in Australia. In an announcement today, Crypto.com said it had tailored its existing tax services for United States- and Canada-based crypto users to allow Australians to accurately report cryptocurrencies on their taxes. The exchange said it worked with professional tax advisers to ensure that the service was consistent with laws for filing cryptocurrency taxes in the country.Crypto.com....
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One of Australia’s biggest banks is still wading through a sea of red tape spun by local financial regulators before launching its crypto products to all of its retail users. Financial regulators are standing in the way of expanded crypto services on Commonwealth Bank of Australia’s (CBA) mobile app. In an Australian first, the bank aims to grant all of its 6.5 million users access to cryptocurrency services.The CBA’s crypto products started a pilot of the services late last year after which it hoped to open up to all of the users of its app, however it now appears to be moving toward a....
The taxman commeth for Australian crypto investors and Binance wants to help them out. The Australian branch of leading cryptocurrency exchange Binance has increased the ability for users to accurately report tax liabilities amidst increased pressure from local tax authorities.Binance has partnered with cryptocurrency tax startup Koinly to assist users grappling with ever-increasing tax obligations down under. Binance users in Australia have been offered access to Koinly’s tax reporting solution through the integration.Koinly was founded in 2018 and supports over 600 exchanges and wallets,....
The Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to calculate any capital gain or loss from the sale of digital coins and tokens and record it in their tax returns.
Australian Taxpayers Warned They Should Report Crypto Gains
The Australian Taxation Office (ATO) has announced four key areas where it will focus its attention this year. These include record-keeping, work-related expenses, and rental property income and deductions.....
The Bitcoin Association of Australia is pleased to see the expansion of cryptocurrency services within Australia with the recent addition of support from Coinloft and Cointree for Ether, Litecoin and DAO Tokens. As its President Adam Poulton says in an email to CoinTelegraph, “The new services provided by these two Australian exchanges add to the choice for Australian customers and ensures that developers and service providers can participate easily in these new marketplaces with trusted local providers”. Adding Ether. The two of Australia’s leading Bitcoin exchanges this week announced....
United-States-based Twitter users had been reporting suspicious data access requests from FTX.US to their bank accounts. Plaid is a fintech company that facilitates communication between financial services apps and users’ banks and credit card providers. In FTX.US’ case, its products enable users to allow FTX.US customers to connect their bank accounts to the FTX app. This would then allow FTX.US to request payments that will be processed by the ACH network. In a pinned Tweet on Nov. 12, Plaid announced it has suspended FTX’s access to Plaid products as of approximately 6:30 am UTC on Nov.....