Cryptocurrency

Are NFTs taxable in Australia?

 Are NFTs taxable in Australia?

287 In some countries, the tax implications of crypto assets is a hazy subject, but not in Australia. Assets, including NFTs, attract a CGT levy, and the ATO mandates proper record-keeping.

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Are NFTs taxable in Australia?

Are NFTs taxable in Australia?

In some countries, the tax implications of crypto assets is a hazy subject, but not in Australia. Assets, including NFTs, attract a CGT levy, and the ATO mandates proper record-keeping.

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Can you withdraw cryptocurrency in Australia?

Can you withdraw cryptocurrency in Australia?

Cryptocurrency assets can be liquidated in Australia using intermediaries’ services like an exchange or an ATM provider.

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Are NFTs available in Australia?

Are NFTs available in Australia?

NFT assets are available in Australia, but there is a possibility that a particular asset like CryptoPunks might not be listed on all exchanges.

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Who invented Bitcoin and why?

Who invented Bitcoin and why?

Invented by Satoshi Nakamoto, the purpose of Bitcoin was to be developed as an ‘electronic cash system’

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Is Dogecoin available in Australia?

Is Dogecoin available in Australia?

Dogecoin, considered the world’s first joke or meme crypto, is available in Australia.

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Is there a legal way to avoid tax on cryptocurrencies in Australia?

Is there a legal way to avoid tax on cryptocurrencies in Australia?

Tax is due when a CGT event arises. CGT is not levied when donating a crypto asset to a DGR.

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Is it possible for Bitcoin to drop to zero?

Is it possible for Bitcoin to drop to zero?

Bitcoin essentially derives value from backers who continue to believe that the cryptocurrency can one day find broader utility. Any severe blow to this belief can trigger heavy losses in value.

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Crypto winter of 2022 and the road ahead

Crypto winter of 2022 and the road ahead

There are speculations that Bitcoin and altcoins might bounce back and fears that values may drop even further given the atmosphere of high interest rates.

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Can Bitcoin work offline?

Can Bitcoin work offline?

For now, no Bitcoin transfers can be made without recording changes in the underlying blockchain network, for which internet connectivity is a must.

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How do stablecoins like Tether make money?

How do stablecoins like Tether make money?

Some say, Bitcoin could be a not-for-profit currency system, which exists only to provide a blockchain-supported digital currency to people.

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