On 21 March 2022, the Australian government announced that it is progressing to the next stage of the most significant reforms to Australia’s payment systems in more than 25 years, created by new payment and crypto technologies.
The government released the terms of reference for a review by the Board of Taxation into the appropriate policy framework for the taxation of digital transactions and assets such as crypto. The review is being conducted on the basis that it will not increase the overall tax burden. The board has been asked to complete its review by 31 December 2022.
Source Deloitte
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