Australian Treasury consults public on Bitcoin foreign currency tax exclusion
Cointelegraph
Published Sep 06, 2022 04:56AM ET
Updated Sep 06, 2022 11:40AM ET
Australia’s ministerial department of Treasury reached out to the public to seek consultation regarding draft legislation that would exclude cryptocurrencies from being taxed as a foreign currency if passed.
In a press release, Assistant Treasurer Stephen Jones highlighted the Australian government’s intent to exclude crypto assets from being regarded as a foreign currency for tax purposes. However, the legislation would have no impact on the collection of capital gains taxes on crypto held as investments.
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Written By: Cointelegraph
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