[LINK] web: Bitcoin hit with tax blow in Australia | Technology | The Guardian

Jim Birch planetjim at gmail.com
Mon Dec 22 11:22:37 AEDT 2014


A currency requires some kind of agreement.  In a state with rule of law
that covers economic exchanges and taxation currency is a legal definition.
Barter and the "black economy" in general are outside the system and any
sane government would act to limit it at the very least because it evades
taxation. In Australia (at least) Bitcoin is a barter good.  A related
problem for the state is that it can be used to facilitate illegal
activities.

Here's an interesting insight on the nature of currency:

http://www.npr.org/blogs/money/2011/02/15/131934618/the-island-of-stone-money


Jim





On 21 December 2014 at 11:57, Scott Howard <scott at doc.net.au> wrote:
>
> Indeed they do - right below their "World Markets" section, which are also
> not currencies.
>
>   Scott
>  On Dec 20, 2014 4:33 PM, "Jan Whitaker" <jwhit at janwhitaker.com> wrote:
>
> > Bitcoin ruled not to be 'money' -?? Subject to GST.
> > Yet, CNN Money shows the value on its currencies pages:
> > http://money.cnn.com/data/currencies/
> >
> >
> >
> http://www.theguardian.com/technology/2014/dec/19/bitcoin-hit-tax-blow-australia
> >
> >
> >
> >
> > "Lost Anchors" - Now available on Amazon in both print and Kindle
> versions.
> > Print: http://www.amazon.com/Lost-Anchors-J-Kirsten/dp/1502541556/
> > Ebook : <http://mybook.to/lostanchors>myBook.to/lostanchors
> >
> >
> > 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:
> > https://itunes.apple.com/au/book/on-a-lifes-edge/id893736824?mt=11
> >
> > 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
> >
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