Australia's removal of digital currency double taxation welcomed by fintech industry leaders

Australia’s removal of digital currency double taxation welcomed by fintech industry leaders

Source: Australian FinTech The Australian Government’s passage of legislation to remove double taxation on digital currencies is a welcome step and signifies the growing maturity of Australia’s fintech policy environment, according to FinTech Australia. On 19 October, the Australian parliament passed legislation that will transform how digital currencies are treated for taxation purposes in Australia. The legislation, which means digital currencies used to buy goods and services in Australia will be treated just like money for tax purposes, will be backdated to 1 July 2017. Currently, consumers who use digital currency in Australia can effectively bear a goods and […]