Australia: Board of Taxation releases consultation guide on digital asset tax treatment

Overview of cryptoassets along with current taxation treatment within Australia

Overview of cryptoassets along with current taxation treatment within Australia

The Board of Taxation published a “Review of the Tax Treatment of Digital Assets and Transaction” consultation guide, which will be followed-up by a series of consultations through September 2022.

The consultation guide [PDF 416 KB] provides an overview of cryptoassets along with the current taxation treatment within Australia and poses questions for interested parties to consider when formulating input to the review.

According to a release, the Board of Taxation will conduct targeted consultation with stakeholders in the business community, academia, and government, with a series of consultations on the proposed dates:

  • 5 September 2022
  • 8 September 2022
  • 14 September 2022
  • 15 September 2022
  • 19 September 2022
  • 21 September 2022
  • 23 September 2022

All consultations will be conducted virtually, with an additional in-person session in Sydney on 8 September 2022. Written submission responses to the consultation guide are due by 30 September 2022.

More information is available on the Board of Taxation website.

 

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