| The Australian government on Tuesday suggested treating bitcoin and other digital currencies on a par with standard money in the country. The move comes in contrast to an earlier position towards digital currencies as "intangible assets."
“The committee is of the view that digital currency should be treated as money for the purposes of goods and services tax,” a report from Australian Senate Economics References Committee said. The committee recommended to amend last year’s decision by the Australian Taxation Office (ATO), which stated bitcoin was a commodity, "neither money nor a foreign currency," and should be taxed accordingly...............................................Full Article: Source
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