Category: Australian Taxation Office

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Australian Police Seize $9.3M in Crypto, Bust Mastermind Behind Ghost Platform

October 7, 2024

The Australian Federal Police have taken a major step against organized crime by seizing $9.3 million in cryptocurrency. The operation uncovered a secret encrypted communication platform, Ghost, leading to the arrest of its alleged mastermind. Through digital forensics, authorities cracked the suspect’s crypto accounts. With previous operations yielding millions in seized assets, the ongoing investigation…
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Crypto capital gains one of four key areas for Australian Tax Office

May 16, 2022

“Remember, you can’t offset your crypto losses against your salary and wages,” said ATO assistant commissioner Tim Loh. The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022. A capital gain or loss refers to the price difference between the time an asset was purchased…
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Australian Tax Office says it can’t rely on crypto users’ own records

November 26, 2021

“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner. The Australian Tax Office (ATO) said it can’t rely on crypto investors to keep track of their crypto transactions and profits — even though most investors…
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