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07 Oct 2021 CGT

Cryptocurrency: Investment or personal use asset?

The ATO treats cryptocurrency like shares and many other investments. As such, it is generally regarded as a CGT asset.

A CGT event occurs when disposing of cryptocurrency. Events can include selling cryptocurrency for a fiat currency, exchanging one cryptocurrency for another, gifting it, trading it or using it to pay for goods or services.

Cryptocurrency is not a personal use asset if it is kept or used mainly:

  • as an investment
  • in a profit-making scheme
  • in the course of carrying on a business.

Find out more here.

Criteria for granny flat arrangements to be exempt from CGT

From 1 July 2021, a valid granny flat arrangement gives eligible people the right to occupy a property for life may be exempt from CGT.

Learn more about the criteria for a granny flat arrangement to be exempt from CGT here.


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