Australia: Taxation Office guidance on the tax treatment of decentralized finance and wrapping
Progress
Current status
adopted
09 Nov 2023 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
tax authority
Implementation Level
national
Timeline of events
Adopted Taxation Office guidance on the tax treatment of decentralized finance and wrapping
On 9 November 2023, the Australian Taxation Office issued guidance on the tax treatment of decentralized finance and wrapping. The guidance states that engaging in wrapping or unwrapping tokens, such as converting one crypto asset into another form,…
SourceEvent type
outline
Action type
adoption
Government branch
executive
Government body
tax authority