Crypto Tax in Australia.
Cryptocurrency is generally treated as a Capital Gains Tax (CGT) asset when it is sold. However, if you trade heavily in crypto the sale might be on revenue rather than capital account. To further complicate matters, if crypto is used to obtain goods or services and you make a gain of less than $10,000, the gain may be exempt from tax.
Crypto trading is on the ATO radar: in 2020, the ATO sent out approximately 350,000 notices to[...]