Skip to main content

Australia’s taxman is clamping down on cryptocurrency hodlers


Australia is clamping down on the taxation of cryptocurrencies. The country’s tax office is collecting bulk records from Australian cryptocurrency service providers as part of a data matching scheme to make sure traders are paying the correct amount of tax. Data matching is an administrative and law enforcement tool whereby information from a variety of third-party sources is compiled electronically, validated, and analyzed to enable people to do things such as pre-filing their tax returns. In its statement, the Australian Tax Office (ATO) says it is estimated that 500,000 to 1,000,000 Australians have invested in crypto-assets. “The ATO uses third party…

This story continues at The Next Web

from The Next Web http://bit.ly/2LczSCO
Labels:

Comments

Post a Comment

Popular posts from this blog

TNW Podcast: Boris comes over to co-host; Slack’s Cal Henderson talks European tech

 Welcome to the new episode of the TNW Podcast — the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In today’s episode, Andrii is joined by Boris Veldhuijzen van Zanten, co-founder, member of the board, and former CEO of TNW. The topics discussed include the jobs created by Dutch startups, giant state funding for energy projects, translations of the word ‘computer’, and a bunch of other things in between. In the interview section, we’re featuring a conversation with Cal Henderson, co-founder and… This story continues at The Next Web from The Next Web https://ift.tt/jUgcNFD
Post a Comment
Read more

2024’s most important travel tech trends

Guest post by Singapore Tourism Board As the tourism industry continues its post-pandemic recovery in an increasingly uncertain travel market, a question that has dawned upon us is — what’s next? Naturally, many of us are looking towards technology for more opportunities. In 2023, we saw the generative AI boom and further growth of emerging technologies like extended reality (XR) and 5G. While these advances are already shaping the travel sector, there is much more to come as more use cases emerge while the technology further matures. Looking forward into 2024, we can expect teams to do more with less, streamline their… This story continues at The Next Web from The Next Web https://ift.tt/seCScOH
Post a Comment
Read more

Cryptocurrency startup Tagomi gets BitLicense to operate in New York

Tagomi Trading LLC, a cryptocurrency venture backed by Paradigm and Pantera Capital, has become the 18th firm to receive a coveted BitLicense. The crypto brokerage firm received approval for a virtual currency license and a money transmission license. As a result, Tagomi is now authorized to offer trading for “non-securities virtual currencies“, including Bitcoin, Bitcoin Cash, Ether, and Litecoin. The controversial BitLicense was first established in 2015 in a bid to regulate the rapidly expanding virtual currency market. The piece of legislation is issued by New York State Department of Financial Services (NYSDFS) and was first introduced and designed by Benjamin… This story continues at The Next Web from The Next Web https://ift.tt/2HWbORw
Post a Comment
Read more