Cryptocurrency is in the ATO’s sights in 2021

Business Development Specialist - Ceebeks Business Solutions for GOOD

Do you hold any cryptocurrency like Bitcoin, Dogecoin or Ethereum? Yes, well the ATO will be all over your transactions in 2021! The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Australian dollars. ATO data analysis shows a dramatic increase in…