What are the tax implications of receiving dividends in cryptocurrency in Australia?

1 answers

• Dec 19, 2021 · 3 years ago
  At BYDFi, we understand the tax implications of receiving dividends in cryptocurrency in Australia. The Australian tax system treats cryptocurrency as property, so any dividends received in cryptocurrency are subject to the same tax rules as traditional dividends. This means that you will need to include the value of the cryptocurrency dividends in your assessable income for the financial year. It's important to keep accurate records of your cryptocurrency transactions, including the value of the dividends received, as the Australian Taxation Office (ATO) may request this information. To ensure compliance with the tax laws, it's recommended to consult with a tax professional who is knowledgeable about cryptocurrency taxation in Australia.
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