Thousands of Australians have received an email warning them that they may owe tax on crypto ahead of tax time.
The email from the Australian Taxation Office (ATO) has warned them that records show they have “bought or disposed of crypto” since July 1 last year and that they need to report their profits or losses on this year’s return.
The email let recipients know how to claim their crypto ahead of tax time. Supplied
“Disposals include selling, gifting, swapping and other similar transactions.”
The email provides additional information on what to do if they have earned income related to crypto investments or are carrying on a crypto business.
“This includes income from activities such as trading, mining or exchange business,…
