[LINK] Bitcoin .. ATO's draft guidance

JanW jwhit at internode.on.net
Mon Aug 25 12:07:12 AEST 2014

At 11:31 AM 25/08/2014, Brendan wrote:

>I find the categorisation of Bitcoin as an asset a little odd. 
>Barter systems typically rely on things of inherent use value. I'd 
>be intrigued to know where they locate it - ie a number -  for tax purposes.

The strange thing about this is saying it attracts GST. I guess if 
they classify it as 'barter', which is subject to but seldom to my 
knowledge is enforced, the ATO can justify it. But if it's a pseudo 
currency, we'd be paying GST on bank transactions, heaven forbid.


Melbourne, Victoria, Australia
jwhit at janwhitaker.com
Twitter: <https://twitter.com/JL_Whitaker>JL_Whitaker
Blog: www.janwhitaker.com

<https://www.amazon.com/author/jlwhitaker>JL Whitaker
"On A Life's Edge" -
US Amazon print and digital http://viewBook.at/OALEdge
Apple iTunes: 

Sooner or later, I hate to break it to you, you're gonna die, so how 
do you fill in the space between here and there? It's yours. Seize your space.
~Margaret Atwood, writer

_ __________________ _

More information about the Link mailing list