FRom archives 2015, page-3

The ATO’s Crypto Conundrum

In today’s Tech Insider…the tax man is coming for crypto…why the incumbent system has a headache on its hands…how crypto could in fact be the answer…but for now you’ll have to play by their rules…and more…

Tax, it’s the one topic every investor loathes. Or if you’re an accountant or numbers whiz maybe you love it. Either way everyone wants to keep as much of their pie as possible.

This year, more than ever the ATO is on the prowl for crypto claims.

We’ve said it before and we’ll say it again. Crypto isn’t conducive to the taxation system. Though we’re probably (definitely) biased on this front. In fact, we think the whole taxation system isn’t conducive to society at all.

It’s a bloated, bureaucratic mess. But that could change…in time.

Blockchain and crypto could actually be the antidote. The ATO shouldn’t get flustered about it, they should be looking into it. You