The Latest in IT Security

Australia says Bitcoin not taxable as currency

20
Aug
2014

Crypto-currencies such as Bitcoin should not be considered as money or a foreign currency when it comes to taxation, Australias tax authority ruled Wednesday. In guidance designed to help people finalise their tax returns, the Australian Tax Office said Bitcoins were a form of property, disappointing those hoping they would be seen as a currency. The decision follows a similar move by the US Inland Revenue Service in March. Transacting with Bitcoins is akin to a barter arrangement, the Australian Tax Office said in its guidance.

Comments are closed.

Categories

FRIDAY, MARCH 29, 2024
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments