ATO Warns: Don’t Hide Your Cryptocurrency Transaction

The Australian Taxation Office (ATO) is issuing this information sheet to make sure Australians are aware of their tax obligations when using cryptocurrency such as Bitcoin. From a taxation perspective, the ATO’s view is that transacting with cryptocurrencies is akin to a barter arrangement, with similar tax consequences. If you are trading in crypto, you’re required to […]

Why Is It Important To Keep Cryptocurrency Records & Reports For Your Annual Tax Return

Wallet Addresses Every time you send cryptocurrency to another wallet, the transaction is recorded. For every single transaction, there is an entry with your wallet address and the wallet addresses of the individual or business you sent funds to. All these transactions are also captured with the date and time stamps. Asides from this, all[…..]