Unbelievable Cryptocurrency Secrets: A Guide to Capital Gains & Losses In Australia, in 2023.

Is cryptocurrency taxed in Australia?

Emmanuel Sarris here from Australia-wide tax solutions! When it is personal use asset there is no tax, for example, buying items for personal use consumption, a cryptocurrency that is worth more than $10k is usually required to pay a Capital gains tax if you make a gain at disposal, alternatively, a loss if you lose at disposal, please remember, if your tax agent has reduced your everyday income by the capital loss from shares or crypto, it's wrong, and you the signee of the tax return is liable for the tax payable, if you think you have made a mistake, please send it to us and we will check it over for you. Buying and selling cryptocurrency in the normal format will attract capital gains in Australia like all other investments. please see the full blog HERE.

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