From an article in the printed newspaper "THE AUSTRALIAN" today Wed 28 Feb 2018.
Tax Blitz to hit Bitcoin investors
Nick Tabakoff
Associate Editor.
Tax - dodging Bitcoin investors will be confronted by the full investigative powers of the tax office, which has revealed it will use anti-money laundering legislation due to come into force next month as the basis for a long awaited blitz on cryptocurrencies.
THEAUSTRALIAN.COM.AU
The summary
Because Bitcoin is not a personal use asset, normal CGT rules apply.
The ATO will apply a top marginal tax rate of 47% including medicare levy after a 50% discount if the Bitcoin has been held for more than 12 months. If not then the 50% discount will probably not apply but perhaps some part of that, have to wait and see on that/
If you thought you got away without paying tax think again.
