Australia has updated its tax guidance to include any interaction with decentralized lending platforms, liquidity pools and providers, and wrapped tokens.
Dr. Craig Wright never announced himself as Satoshi Nakamoto, but people and the media antagonistic toward him and his status as Bitcoin's inventor seem to paint him as the 'self-proclaimed Bitcoin inventor.'
In this article, Bitcoin Creator Dr. Craig Wright explains some of the reasoning behind how he created Bitcoin and why he released it in such a manner.
Much of the plaintiff’s time with Dr. Craig Wright on the stand has been spent far away from the topic of Dave and Dr. Wright’s work together, and instead takes an extended look at the ATO probes into Dr. Wright’s businesses in Australia.
This year, the agency will be sending letters to around 100,000 taxpayers with digital currency holdings, urging them to review their previously lodged returns.
The state of Australian tax laws left one crypto owner facing a A$100,000 tax liability—despite only buying A$20,000 worth of cryptocurrency.
Dr. Craig Wright didn’t believe a goods and services tax should apply to Bitcoin, so he came up with a plan.
With cryptocurrency ATMs now the most reported means of being scammed, the Australian Tax Office is warning the public on making such payments.
According to Australian Tax Office (ATO), cryptocurrencies are an asset that earn thus are considered capital gains, just like real estate sales which ATO also considers taxable.