Australia Passes Law to Officially Kill Double Bitcoin Tax

Australia Passes Law to Officially Kill Double Bitcoin Tax

This Australia will end on July 2018, which will include double taxation of transactions involving bitcoin-like cryptocurrency. This Bitcoin and other digital currencies have been seen as an intangible asset under mandatory rules by the Australian tax office. It is a onetime purchase for goods and services (GST) taxes and is used again in the transaction for digital currency. It was compulsory in December 2014 under current law, it was twice on the Australian currency for digital currency Tax was levied.

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