Cryptocurrency dealings are becoming increasingly mainstream. The Australian tax law that governs these dealings is a minefield and there are several important considerations for taxpayers and DGRs to be aware of when making or accepting a gift of cryptocurrency.
- circumstances under which a donor taxpayer can claim an income tax deduction for a gift of cryptocurrency
- income tax considerations for the donor taxpayer, and
- practical governance matters for the recipient DGR.
To read the full article, click here.
This publication is copyright. Other than for the purposes of and subject to the conditions prescribed under the Copyright Act 1968 (Cth), no part of it may in any form or by any means (electronic, mechanical, microcopying, photocopying, recording or otherwise) be reproduced, stored in a retrieval system or transmitted without prior written permission. Enquiries should be addressed to Thomson Reuters (Professional) Australia Limited. PO Box 3502, Rozelle NSW 2039. legal.thomsonreuters.com.au.