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ATO’s good-faith approach to crypto won’t last much longer

ATO’s good-faith approach to crypto won’t last much longer

The ATO has maintained its good-faith approach to the accounting of cryptocurrencies, though it isn’t expected to last much longer, says a national tax and accounting network.

by Shared by AccountantsDaily | 28 Feb, 2021

ATO to crackdown on Australians investing in crypto assets

H&R Block director of tax communications Mark Chapman said that now is time for those involved in cryptocurrencies to pay attention to the “tax side of things”, before the ATO ramps up enforcement of undeclared crypto assets.