Australia: Tax treatment of digital assets and transactions; policy framework review

Policy framework review for the taxation of digital assets and transactions in Australia

Policy framework review for the taxation of digital assets and transactions in Australia

The Board of Taxation has been tasked with reviewing an appropriate policy framework for the taxation of digital assets and transactions in Australia.

Under the terms of reference released 21 March 2022, the Board has been asked to:

  • Consider the current Australian taxation treatment of digital assets and transactions and emerging tax policy issues
  • Consider the awareness of the taxation treatment by both retail and wholesale investors and those transacting in digital assets as part of their business
  • Consider the characteristics and features of digital assets and transactions in the market, including the rapid evolution of technology supporting the broader digital asset ecosystem
  • Analyse the taxation of digital assets and transactions in comparative jurisdictions and consider how international experience may inform the taxation of digital assets and transactions in Australia
  • Consider whether or not any changes to Australia’s taxation laws and/or their administration are warranted in the context of digital assets and transactions, both for retail and wholesale investors

The Board’s review is to be completed by 31 December 2022.

More information is available on the Board of Taxation website.

 

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