On 16 June 2020, the AAT decided that The AAT has concluded that ‘Bitcoin‘ is not a ‘foreign currency‘ for the purposes of the rules in Div 775 of the ITAA97 dealing with foreign currency gains and losses.
See below for a summary of the case.
Author: John Morgan
http://www.FJMtax.comJohn Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au