ATO Scrutiny Could Increase for Everyday Investors: Crypto Tax Exec
- The release of the ‘Board of Taxation’s Review of the tax treatment of digital assets and transactions in Australia’ last week could signal more active enforcement of crypto tax compliance, according to Shane Brunette, CEO of Crypto Tax Calculator.
- The Government’s review didn’t propose any new crypto-specific tax legislation, instead it reaffirmed that crypto is covered by existing tax laws.
- In response to the review, the ATO said it will form an industry working group to create a package of publicly available crypto tax guidance.
The Australian Government’s recent move to rule out crypto-specific tax laws paves the way for the Australian Tax Office (ATO) to more actively enforce crypto tax…
