Australia’s taxman is clamping down on cryptocurrency traders

Australia’s taxman is clamping down on cryptocurrency traders
ôîòî ïîêàçàíî ñ : thenextweb.com

2019-4-30 13:34

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…

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