ATO action likely as cryptocurrency takes off with clients
Popular hype and misunderstanding of tax consequences of cryptocurrency is inviting attention of non-sophisticated investors and otherwise conservative clients, which is likely to attract further guidance and intense surveillance from the regulators.
Cryptocurrency is a key surveillance area for the tax office – it is engaging in external consultation in a bid to monitor tax compliance and ensure general awareness of the associated tax obligations.
Read the full article on Accountants Daily.
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