Bitcoin: virtual currency, real tax
By Guest Author · 9 September 2014 · Accounting
By Guest Author · 9 September 2014 · Accounting
The Tax Commissioner's stance on Bitcoin is about to shake the financial world. Find out how your virtual currency transactions could be impacted - and what it means for your wallet.
The Tax Commissioner believes bitcoin is not money or foreign currency and bitcoin transactions should be treated like barter trades, with similar tax results.
Tags: ATO, bitcoin, crypto-currency, emerging technology, New Technology, Tax