What are the tax implications of day trading crypto in Australia?

1 answers

• Dec 27, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi understands the importance of tax implications when it comes to day trading crypto in Australia. The Australian Taxation Office (ATO) treats cryptocurrency as an asset, which means that any profits made from day trading are subject to capital gains tax. It's crucial to keep accurate records of your trades, including the purchase price, sale price, and dates of each transaction. If you're unsure about how to handle your tax obligations, it's always a good idea to consult with a tax professional who specializes in cryptocurrency taxation. They can provide guidance and ensure you're meeting your obligations.
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