Australia Plans To Release Bitcoin Tax Guidance In 2014

Law360, New York (February 11, 2014, 5:31 PM EST) -- The Australian Taxation Office is reportedly planning to issue guidance on the tax treatment of Bitcoin by the end of 2014, a move that would make it one of the first members of the G-20 to regulate the digital currency.

In a statement published Sunday by The Australian Financial Review, ATO Senior Assistant Commissioner Michael Hardy said the regulator has been monitoring the growth of Bitcoin and will provide more information about how the currency should be treated for tax purposes before June 30.

“The ATO...
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