Australian traders must pay taxes on income received from digital asset transactions. With the corresponding reminder the day before, the Australian Tax Administration issued a reminder.
Moreover, taxes must be paid on all types of transactions, including NFT tokens.
Australia is on the list of states with a high proportion of cryptocurrency investors. However, local authorities hinder the development of the blockchain sector, according to Kraken.
Back in the fall, the representative of this exchange, Jonathan Miller, accused the country's supervisory authorities of striving to establish total control over the cryptosphere, which hinders the development of the industry.
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The Tax Administration emphasized that every trader who earns on operations with digital currencies must pay taxes to the treasury.
NFT tokens belong to the class of cryptocurrencies, therefore, participants in transactions with such instruments must also fulfill tax obligations.
In February, the Australian Internal Revenue Service announced that transactions with NFT collections are regulated in the same way as transactions with bitcoin and other virtual currencies.
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Last year, government spokesman Josh Frydenberg said that more than 800,000 Australians already own various coins, including bitcoin and ether.