Australian Government committed to finale bitcoin double taxation

Bitcoin Watch Shop

The Australian Government recently announced it’s “committed to addressing a ‘double taxation’ of digital currencies.” Earlier in a week a Hon Scott Morrison MP, Treasurer of a Commonwealth of Australia, reportedly settled that digital currencies, including bitcoin, will be free from Goods and Services Tax (GST) as partial of changes dictated to boost a fintech sector.

– Hon Scott Morrison MP

A news called “Backing Australian FinTech” was concurrently released, that outlines a Australian Treasury’s response to fintech growth priorities. Among a responses was one to rectify a Goods and Services Tax Act of 1999.

“The Government recognises that that a stream diagnosis of digital banking underneath GST law means that consumers are ‘double taxed’ when regulating digital banking to buy anything already theme to GST,” states a Treasury department. “The Government is committed to addressing a ‘double taxation’ of digital currencies and will work with a attention on legislative options to reform

Read more ... source:

Advertise on the Bitcoin News

Do you like The Bitcoin News ? Thank you for Support us !
ETH: 0xa829E61Cc130b4f02fbfc9D7763361a550C7f824