22 Mar '16, 3am

The Australian government wants to end the 'double taxation' of Bitcoin

The Australian government wants to end the 'double taxation' of Bitcoin

If you use Bitcoin in Australia, you would know you get taxed twice. Now, the government is moving to fix the issue. Treasurer Scott Morrison's remarks may have gotten a little lost amid the media maelstrom caused by the possibility of an early election in Australia, but he made an announcement Monday that should make digital currency enthusiasts cautiously happy. At an event at Sydney fintech hub Stone and Chalk, Morrison launched the government's plan to make Australia "a hot house" for fintech investment. On the agenda: A bid to end the onerous tax treatment of digital currencies such as Bitcoin. SEE ALSO: Apple reveals breakthrough product at big event: moral justice "We will take action to address the double GST treatment of digital currencies. We won't be taxing digital currency," Morrison said in his remarks . Currently, under a 2014 ruling by the Australian Taxatio...

Full article: http://mashable.com/2016/03/21/double-taxation-bitcoin-au...

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