Australian Tax Rules on Crypto Staking and DeFi Cause Confusion
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Australia's tax agency issued confusing crypto guidance suggesting capital gains tax applies to common DeFi transactions like staking and using bridges.
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The agency failed to clarify if activities like staking Ether or transferring to layer 2s are taxable events, leaving crypto users unsure how to comply.
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The rules may force users to pay taxes on "profits" from staking or bridging even if no crypto was sold.
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A senator said the government's delay in releasing crypto tax findings has created complexity and uncertainty.
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Tax experts argue the rules show a lack of understanding of DeFi and are too aggressive, with unclear staking and bridge implications.