AUSTRALIA MOVES TO REMOVE DOUBLE TAXATION ON DIGITAL CURRENCY

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Australian government to remove double taxation of bitcoin Regulation, the Australian Parliament passed, The Australian Government's passage of legislation to remove double taxation on digital currencies is a welcome step and signifies the growing maturity of Australias fintech policy environment, industry leaders say., The removal of the double taxation on digital currency was among the steps announced in the budget to promote FinTech innovation and growth. Another step was legislation to implement Crowd Sourced Equity Funding (CSEF) for public companies. The Bill was passed in the Australian Parliament on, The Australian Government s passage of legislation to remove double taxation on digital currencies is a welcome step and signifies the growing maturity of Australia s fintech policy, What a great year for cryptocurrencies at least so far. First it was China that made moves to strengthen Bitcoin and then it was followed by Russia and now its Australia. The government in its budget summary for confirmed that it would treat the digital currency just like it treats money, as a result of legislative amendments that were recently enacted. The amendments align the Goods and Services Tax (GST) treatment of digital currency with money. This, According to existing Australian laws and policies, The Australian Treasury has recently introduced the Treasury Laws Amendment (2025 Measures No. 6) Bill 2025, On 19 October, the Australian government has at last introduced a bill to push the necessary legislation to remove the double taxation of digital currencies. A move described by Australia s treasurer Scott Morrison as an action that will further cement Australia s reputation as a global FinTech center. In a statement, Treasurer Scott Morrison has introduced legislation into the Australian Parliament to remove the double taxation of digital currency., Digital currencies such as Bitcoin and Ethereum will no longer be subject to double taxation if legislation introduced last week into the Federal Parliament is successful. Treasurer Scott Morrison, fringe benefits tax and capital gains, Morrison wrote:, will be backdated to. , which alters the GST treatment of digital currency. In an effort to promote more international commerce business in Australia, Australian's federal government has announced plans to remove a 'double taxation' treatment that affects digital currencies such as bitcoin., This refers to a series of rulings released in December 2025 by the Australian Taxation Office (ATO) which provided clarity to taxpayers on the income tax, the proposed bill removes the GST obligations from digital currency effectively putting such currency on even footing with any other physical currency in, and will commence 29 September, Transactions in digital currency will no longer give rise to double taxation in the hands of consumers from, Digital currency should be treated as money : The committee recommended treating digital currency as money for the purposes of the goods and services tax. It recommends that the government consults with the states and territories to consider amending the definition of money in the A New Tax System (Goods and Services Tax) Act 2025 and including digital currency in the definition of financial, Treasurer Scott Morrison has introduced legislation into the Australian Parliament to remove the double taxation of digital currency. The Bill will ensure that Australians are no longer charged, The Australian government has finally and conclusively provided a legislative end to the double taxation of Bitcoin and other cryptocurrencies. The bill will retroactively be enforced to July 1 of, the Australian Parliament passed legislation that will transform how digital currencies are treated for taxation purposes in Australia. The legislation, allowing it to be treated the same way as physical money for GST purposes., which means digital currencies used to buy goods and services in Australia will be treated just like money for tax purposes, digital currency users in Australia are again taxed for the GST that s charged on the currency used in the transaction. The double taxation for cryptocurrencies has received heaps of criticism from, New legislation passed by the Australian government will remove the double tax on digital currencies in a move that will propel Australia to the next Silicone Valley, The Australian Government has passed legislation crafted to remove the double taxation on cryptocurrencies. Industry participants welcomed the step as indicative of the maturing Fintech policy, Digital currencies such as Bitcoin and Ethereum will no longer be subject to double taxation if legislation introduced last week into the Federal Parliament is successful. Treasurer Scott Morrison says the proposed change will further cement Australia s reputation as a global Fintech centre. , The purpose of the legislative changes is to remove the double taxation of digital currency. The Australian government is looking for the best way to address the so-called double taxation of digital currency which is now prescribed by the Goods and Services Tax (GST) law. The push comes amid a, Now, all traders and investors of cryptocurrencies such as Bitcoin and Ethereum are potentially liable for the goods and services tax (GST). As such, By Matthew Cridland. Treasurer Scott Morrison has introduced legislation into the Australian Parliament to remove the double taxation of digital currency. The Bill will ensure that Australians are no longer charged GST on purchases of digital currency, according to Australian fintech industry leaders. On 19 October..