Digital Policy Alert logo

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

22 Jun 2022
adopted

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…

Source
Event type outline
Action type adoption
Government branch executive
Government body central government

We use cookies and other technologies to perform analytics on our website. By opting in, you consent to the use by us and our third-party partners of cookies and data gathered from your use of our platform. See our Privacy Policy to learn more about the use of data and your rights.