ATO Warns Bitcoin and Other Cryptocurrency Investors Can’t Avoid Paying tax
ATO (Australian Taxation Office) has recently announced that no cryptocurrency investor can play the hide and seek game to avoid tax. According to the official “The Australian” figures, about 17% of Australians own cryptocurrency. Some of them think that they can ignore tax obligations because of the anonymity of the digital currency. The assistant commissioner of ATO, Tim Loh said that this news alarmed the ATO office. Resultantly, the ATO extended its partnership with cryptocurrency exchanges in Australia and instructed them to provide their official trading data by 2022-2023.