Tag Archive: Australian government

  • Bitcoin, Legislation, News, News teaser, Press releases

    Bitcoin in Australia: TAXED!

    According to the news I received, Bitcoin will be taxed in Australia. The Spokesperson for the Australian government explains it as such: “A transfer of Bitcoin from one entity to another is a ‘supply’ for GST purposes. Basically, there is a supply/demand and as such it is liable for taxation. The exclusion from the definition of supply for supplies of money does not apply to Bitcoin because Bitcoin is not ‘money’ for the purposes of

    · December 21, 2014 · 3:00 pm