Income tax: is bitcoin a ‘foreign currency’ for the purposes of Division 775 of the Income Tax Assessment Act 1997 ?
TD 2014/25—the Taxation Determination issued by the Australian Taxation Office (ATO) in 2014, which provides guidance on the tax treatment of Bitcoin and other cryptocurrencies—is still considered valid, but it is important to note that tax rulings can evolve as tax laws and guidance change over time. Here’s a breakdown of the current status and Read More …