Cryptocurrency is a key surveillance area for the tax office – it is engaging in external consultation in a bid to monitor tax compliance and ensure general awareness of the associated tax obligations.
Read the full article on Accountants Daily.
ATO action likely as cryptocurrency takes off with clients
Popular hype and misunderstanding of tax consequences of cryptocurrency is inviting attention of non-sophisticated investors and otherwise conservative clients, which is likely to attract further guidance and intense surveillance from the regulators.
