Posted 12/1/2023, 5:21:34 AM
Australian Tax Rules on Crypto Remain Murky Despite New Guidance
- Australian Tax Office (ATO) released confusing new tax guidance on crypto and DeFi that a law firm says should be ignored as "toilet paper"
- Guidance is non-binding and unclear; firm founder actively telling people to ignore it
- Whether activities like bridging assets across chains or staking incur taxes is still ambiguous
- Ignoring guidelines could be risky if ATO determines investor violated them
- Uncertainty around crypto taxes in Australia likely to persist until public ruling, legislation, or litigation sets precedent