“I am actively telling people they are best ignoring it,” Cadena Legal’s founder tells Cointelegraph after controversial new tax guidance on DeFi was released in November.
Crypto capital gains one of four key areas for Australian Tax Office
“Remember, you can’t offset your crypto losses against your salary and wages,” said ATO assistant commissioner Tim Loh.
Australian Tax Office says it can’t rely on crypto users’ own records
“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner.