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Australia Will Tax Digital Assets and Transactions Under Existing Tax Law

24 March 2025

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Approved Changes

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Australia

In a joint media release published 21 March 2025 on the next steps in developing an innovative digital asset industry, the Australian government noted the release of the Board of Taxation's Review of the tax treatment of digital assets and transactions in Australia. The key conclusion of the report is that the taxation of digital assets and transactions can already be accommodated under existing tax law, and any uncertainty can be effectively managed by the Australian Taxation Office (ATO) providing additional guidance materials. In this regard, the ATO has agreed to form a bespoke and time limited crypto working group...