Cryptocurrency has exploded in popularity across the world, including here in Australia, but with that growth has come complexity in how crypto is treated for tax purposes. For many retail investors and active traders alike, understanding when a crypto transaction is taxable and how it’s taxed is now one of the biggest compliance challenges writes director of Tax Communications at H&R Block (NYSE:HRB) Australia, Mark Chapman.
At its core, the Australian tax system treats crypto like property, which means most transactions trigger either Capital Gains Tax (CGT) or are assessed as ordinary income, depending on the context. Tax specialists at H&R Block Australia say confusion often arises because everyday crypto activity can carry tax…
