The Australian Government looks likely to change its GST treatment of digital currencies. In NZ we're left wondering what our Government's position is. This is the second time in about as many weeks Australia has taken steps to...
Iain Blakeley
Barrister - Tax Expert - Business Adviser - Director, Professional, Practical, Fast, Affordable Bitcoin
Australian Tax Office rules on Bitcoin
The ATO has just issued a ruling on the GST treatment of Bitcoin. Here: http://law.ato.gov.au/atolaw/view.htm?docid=%22GST%2FGSTR20143%2FNAT%2FATO%2F00001%22 In brief: 1. A transfer of bitcoin is a "supply" for GST purposes. 2. Bitcoin is not "money" under the GST...