Iain Blakeley

Barrister - Tax Expert - Business Adviser - Director, Professional, Practical, Fast, Affordable

Bitcoin

Australia leads NZ 2 – 0

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...

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...