Source: The Tax Specialist Journal Article
Published Date: 1 Feb 2022
This article examines the tax consequences applicable to taxpayers who unintentionally lose their cryptocurrency holdings. We focus on non-business taxpayers whose holdings would fall within the capital gains tax regime. We reflect on the interpretation of CGT event C1 and what it means for a cryptocurrency holding to be "lost" within this context, examining common law precedent and existing guidance published by the Commissioner. We then extend the analysis to consider the implications for deceased estates.
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