Australia: Cryptocurrencies not taxed as foreign currency
Progress
Current status
processing consultation
22 Jun 2022 adopted
Scope
Implementers
Australia
Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central government
Implementation Level
national
Timeline of events
Minister of Finance announces cryptocurrencies not taxed as foreign currency
On 22 June 2022, the Australian Treasurer announced that cryptocurrencies are not be considered foreign currency for tax purposes. Given the decision in El Salvador and the Central African Republic to permit bitcoin as a legal tender, according to t…
SourceEvent type
outline
Action type
adoption
Government branch
executive
Government body
central government