ATO ‘blitz’ sparks warning for millions of Aussie cryptocurrency investors: ‘Trigger an alert’
Aussies are being warned to brace for surprise audits, huge tax bills or even investigations if they don’t do the right thing when it comes to their cryptocurrency. The Australian Taxation Office (ATO)’s “blitz” has begun, with the tax office using data-matching to crack down on investors.
The end of the financial year is just around the corner and the ATO will be watching cryptocurrency activity. The ATO collects records from Australian cryptocurrency service providers on an ongoing basis to ensure people trading in crypto are paying the right amount of tax.
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