21 Mar '16, 6am

Australian government to scrap bitcoin 'double tax' - ZDNet

The federal government has announced plans on Monday to remove the 'double tax' treatment from those dealing in digital currency such as bitcoin. In its report [PDF] Backing Australian FinTech , the government said it recognises that that the current treatment of digital currency under the Goods and Services Tax (GST) law means that consumers are "double taxed" when using digital currency to buy anything already subject to GST. Latest Australian news Commonwealth turns to fintech and appoints advisory board NBN launches Digital Diagnosis, releases telehealth report AWS resolves connectivity issues with Telstra and Optus Telstra stumps up for another free data day, begins engineering review NBN announces FttDP trials across Sydney, Melbourne "The government is committed to addressing the "double taxation" of digital currencies and will work with the industry on legislative ...

Full article: http://www.zdnet.com/article/australian-government-to-scr...

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