The ATO is targeting the cryptocurrency investors and traders in their 2021 tax. Pat chats about the Cryptotax Number One tax advisor Andrew Bragg and the most recent news for those with cryptocurrencies. Check out this video for more!
As the ATO data matching program ramps up, Australians who have invested in cryptocurrency will no longer be able to conceal their transactions from the ATO to avoid paying tax.
The ATO has upheld its good-faith approach to the accounting of cryptocurrencies, however it isn’t likely to last much longer.