Breaking: Bitcoin Gets a Tax Cut in Australia

Breaking: Bitcoin Gets a Tax Cut in Australia

Following a policy statement by the Australian Government Treasury in March that saw the authority reveal that digital currencies such as Bitcoin are likely to be exempt from double taxation via the Goods and Services (GST) tax, the Australian Government has kept its word. The Australian Government’s Budget 2016-17 has listed its intention to remove the double taxation levied on digital currencies like Bitcoin. An excerpt from a summary of the 2016-17 Budget that focused on Jobs and Growth, released today, read: The Government has released a consultation paper on changing the GST treatment....


Related News

Chronobank joins FinTech Australia

Fintech Australia is a national Australian Fintech Industry Association. Their vision is to make Australia one of the world’s leading markets for Fintech innovation and investment. Founded in October 2015, their membership base now comprises over 70 startups, venture capital funds, hubs and accelerators across Australia that specialise in Fintech. As a not-for-profit organisation, they support the Australian Fintech community, build awareness and trust in Fintech startups and advocate for better policy on behalf of our members. Fintech Australia is the voice for Fintech innovation in....

6 Best New Cryptocurrency Australia to Buy 2022

With the growing popularity of cryptocurrencies, investors from all over the world are looking to buy the best new cryptocurrency assets in 2022. This guide reviews the 6 best new cryptos to buy in Australia in 2022. Top 6 New Cryptocurrency Australia to Buy 2022 Tamadoge – Best New Crypto to Buy in Australia in 2022 Battle Infinity – Top New P2E Platform to invest in Australia Lucky Block – New NFT Cryptocurrency Project to Buy in Australia Ethereum – Best New Altcoin to Invest in Australia Solana – Highly Scalable Cryptocurrency Project in 2022 Dogecoin....

Australia To Lead International Blockchain Standards Initiative

Creating international blockchain standards will not be an easy feat. Australia is poised to lead the international discussions, as they will act as secretariat of a technical committee. The country has proposed this committee to the International Organization for Standardizations, which approved the idea. But what does all of this even mean for blockchain and cryptocurrency enthusiasts? Global Blockchain Standards Are Coming. Standards Australia is the group that will lead the charge for establishing international blockchain standards. Dr. Bronwyn Evans, CEO of Standards Australia,....

Crypto Scam and Investments Duped Over $242 Million In Australia

Since the cryptocurrency grew in the last few years, it also has become the favorite place for fraudsters and cybercriminals to loot money. Per the latest estimates, Australia records significant losses indicating crypto scams are on the rise in the state. According to the stats viewed by the Australian Competition and Consumer Commission (ACCC), Australia […]

Reserve Bank of Australia to Pilot Digital Currency, Explore Use Cases

The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch of a research program to explore the benefits of issuing a central bank digital currency (CBDC) for the country’s economy. The project, expected to take about a year, will be realized together with the Digital Finance....