The Australian Taxation Office (ATO) is seeking personal data and transaction details from cryptocurrency exchange users to identify traders who may have failed to pay their taxes on crypto trades. Cryptocurrencies are taxable assets in Australia, requiring traders to pay a capital gains tax on profits. Other jurisdictions like Canada and Turkey are also aiming to collect unpaid taxes on digital asset gains, while the US is considering raising the long-term capital gains tax rate.
Keyword: Australia, tax office, cryptocurrency, tax crackdown, capital gains tax, Canada, Turkey, US, digital asset gains
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Last edited on: May 7, 2024 at 08:27 pm