How the hell did they tax it!?
RE: Bitcoin to become “Just like Money” in Australia on July 1
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Bitcoin to become “Just like Money” in Australia on July 1
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Was not intentional - as the Australian government is at least a decade behind modern values and technologies crypto was considered a product and was liable for the blanket 10% Goods and Services Tax. If you bought bitcoin you pay 10% GST on it, then spent bitcoin in Australia you pay 10% GST on whatever you buy.
On 1st July crypto will be considered a currency and therefor not liable for 10% GST on its purchase. Considering our government is actually replacing hundreds of thousands of old copper phone lines with
fibrenew copper phone lines its amazing it slipped through unnoticedDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
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