Australia Will Recognize Bitcoin as Money and Protect Bitcoin Businesses, No Taxes by sergey44

crypto · @sergey44 · May 11 '17

$1.11

Australia Will Recognize Bitcoin as Money and Protect Bitcoin Businesses, No Taxes

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<p><img src="https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy80MzU0ZDhjZmEwOGQ3NDMwOTI3OTQ1NzM3YjBmMTYzNS5qcGc=.jpg" width="725" height="483"/>&nbsp;<a href="https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1">Bitcoin will be treated as money</a> in Australia by July 1, 2017, and will be exempt from goods and services tax (GST). Bitcoin traders and investors will not be taxed for purchasing and selling Bitcoin through regulated exchanges and trading platforms. https://cointelegraph.com/news/australia-will-recognize-bitcoin-as-money-and-protect-bitcoin-businesses-no-taxes“The Government will make it easier for new innovative digital currency businesses to operate in Australia. From 1 July 2017, purchases of digital currency will no longer be subject to the GST, allowing digital currencies to be treated just like money for GST purposes. Currently, consumers who use digital currencies can effectively bear GST twice: once on the purchase of the digital currency and once again on its use in exchange for other goods and services subject to the GST.”</p>
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@raymonjohnstone · May 11 '17

Your link results in a 404.

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@allyinspirit · May 22 '17

Good article. Especially if you are an Aussie. Should be: https://cointelegraph.com/news/australia-will-recognize-bitcoin-as-money-and-protect-bitcoin-businesses-no-taxes 🙏

👍 raymonjohnstone, martincarterjm

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@lydon.sipe · May 11 '17

Interesting - thanks for sharing the news.

👍 sergey44

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@allyinspirit · May 12 '17 (edited)

Such welcome news for Aussies users of Bitcoin and other digital currencies. Thanks for sharing this Coin Telegraph article. ♥︎🌍   ♥︎

👍 sergey44

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