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There is no gst or vat imposed on cryptocurrencies in australia, but it is taxed under capital gains. In the course of carrying on a business. Everything you need to buy, sell and manage your cryptocurrency. Another common question is whether or not it's legal to in fact purchase bitcoin in australia. There is nothing illegal in buying or trading cryptocurrency.
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Contrary to popular belief, you don't need to be a tech geek or finance guru to buy bitcoin.
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Buy/sell cryptocurrency similarly to coinbase or other cryptocurrency exchanges, kraken has its daily buying/selling limits. Only a legal professional can offer legal. According to wikipedia on the legality of bitcoin by country, bitcoin in australia is marked as legal since december 2013 by the governor of the reserve bank of australia (rba). Cryptocurrencies are legal and are treated as property in australia. Reviewing the best cryptocurrency exchanges in australia:
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The taxation of cryptocurrency in australia has been an area of much debate, despite recent attempts by the australian taxation office (ato) to clarify the operation of the tax law.for income tax purposes, the ato views cryptocurrency as an asset that is held or traded (rather than as money or a foreign currency).
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And measures to protect users investors.
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