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Australia's government wants to hear from the public about its tax treatment of cryptocurrencies.
The Australian Tax Office (ATO) said Monday that it has updated its guidelines for cryptocurrencies on Mar. 13, following an increase in queries from taxpayers.
As a result, officials have launched a public comment process in order to "understand [the] practical issues experienced when complying with cryptocurrency tax obligations."
"In particular, we are interested in any practical issues that may impact on taxpayers' abilities to calculate and substantial any capital gains and losses for (cryptocurrency) capital gains tax (CGT) purposes," the agency explained on its website.