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RE: The ATO wants to talk to us about crypto currencies
Under the new guidance we have to report crypto - crypto transactions with regards to profit right? That is serious overkill and quite inaccurate in terms of assigning a relevant value given prices multiple price quotes and currency terms.
yep, that's the only thing that puzzles me. It has to be treated as a different asset class and not seen like property. DO we get taxed if we profit from currency exchange now? I don't know about that...it should be just seen as another currency or a medium.
I think that's what the guidance was saying, all too confusing to me to be honest lol.