Was not intentional - as the Australian government is at least a decade behind modern values and technologies crypto was considered a product and was liable for the blanket 10% Goods and Services Tax. If you bought bitcoin you pay 10% GST on it, then spent bitcoin in Australia you pay 10% GST on whatever you buy.
On 1st July crypto will be considered a currency and therefor not liable for 10% GST on its purchase. Considering our government is actually replacing hundreds of thousands of old copper phone lines with fibre new copper phone lines its amazing it slipped through unnoticed
Was not intentional - as the Australian government is at least a decade behind modern values and technologies crypto was considered a product and was liable for the blanket 10% Goods and Services Tax. If you bought bitcoin you pay 10% GST on it, then spent bitcoin in Australia you pay 10% GST on whatever you buy.
On 1st July crypto will be considered a currency and therefor not liable for 10% GST on its purchase. Considering our government is actually replacing hundreds of thousands of old copper phone lines with
fibrenew copper phone lines its amazing it slipped through unnoticed