Australia: Consultation closed for taxation on digital assets and transactions

On 30 September 2022, the Taxation Board's consultation regarding the taxation of digital assets and transactions was closed. The consultation process started on 17 August 2022. The Government published a consultation guide that includes an overview of the current legislative foundation regarding digital asset taxation, relevant government reports and questions for the consultation process. In its consultation, the Board gathered information on the issues regarding taxation stakeholders, including digital payment providers, investors and businesses, are experiencing. The Board is expected to publish a report on its finding by 31 December 2022.