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Australian Tax Office Cautions Crypto Investors to Declare Capital Gains
The Australian Tax Office (ATO) has renewed calls to the country’s crypto investors warning them to report capital gains or losses on their crypto trading activity. In a statement on Sunday, the ATO’s Assistant Commissioner Tim Loh said his agency will focus on four areas including record keeping, work-related expenses, rental property income and deductions as well as capital gains from crypto assets, property and shares. “Crypto is a popular type of asset and we expect to see more capital gains or capital losses reported in tax returns this year,” said Loh. The warning follows a series of similar messages ... (full story)