Post
Topic
Board Legal
Re: Australian tax department discussing Bitcoin tax without consulting CCCB
by
racerx
on 28/11/2013, 07:59:51 UTC
So... where are we with the CCCB and the ATO?

I've been consulting with a well respected tax firm (who have also sought information from a variety of other sources) and at present they cannot offer me any solid answer on how the ATO think btc->fiat transactions will be viewed. 

They recommend if I was to cash out any btc to hold $46% in a term deposit and wait until May the following year (deadline for accountant submitted tax returns) and hope that the ATO has a decision before then... if they go down he CGT route then only pay 23%.

Anyone else got anything more solid?