The Australian tax office targets 1.2 million crypto investors to comply with the tax regulations

The data you are looking for include a number of personal information such as the date of birth of the user, account data for social media and telephone numbers as well as transaction-related special features such as wallet addresses, types of traded coins and bank account information.

This comprehensive approach is intended to make it easier to identify dealers who may have failed to report their crypto -related income and to pay the necessary capital gains tax on profits from cryptocurrency transactions.

In contrast to other foreign currencies, cryptocurrencies in Australia are classified as taxable assets, so that individuals who operate crypto handle have to meet their tax obligations.

According to the ATO, the complex and constantly developing nature of the cryptocurrency landscape often leads to challenges in sensitization to compliance with tax regulations. In its communication, the agency pointed out that the simple purchase of crypto-assets could use fake information to attract individuals who want to avoid their tax obligations.

crypto tax conformity all over the world

Australia is not alone. All over the world, jurisdiction increases their efforts to collect unpaid taxes from profits from digital assets. In Canada, the Canada Revenue Agency (CRA) reports over 400 exams in connection with cryptocurrencies and investigates against numerous crypto investors to recalculate unpaid taxes.

In a similar way, it is expected that Turkey will introduce crypto -related laws this year to create a legal framework for crypto taxes, which reflects the growing recognition of cryptocurrencies in economies worldwide.

In the United States, regulatory proposals aim to raise the tax rates for long -term capital income, especially for investors with a high income. The bidet government's federal budget proposal provides plans for a tax rate of 44.6 % on long-term capital profits for people who earn more than $ 1 million a year. In addition, there is a proposal for a tax of 25 % for unrealized profits for very wealthy private individuals, whose implementation is still uncertain.

While these regulatory measures signal a tightening of the supervision in the cryptocurrency area, the extent of their effects on market dynamics and investor behavior remains.