âOur main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,â said the ATO commissioner.
Australian Tax Office says it can't rely on crypto users' own records
The Australian Tax Office (ATO) warns that cryptocurrency gains are not tax-free and clarifies that taxes apply even if holdings are not converted back to Australian dollars, countering common misconceptions among taxpayers.
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