What are the current tax brackets for cryptocurrency earnings in Australia?

3 answers

• Holman MatthewsNov 19, 2023 · 2 years ago
  Sure! When it comes to cryptocurrency earnings in Australia, they are treated as capital gains. The tax brackets for capital gains depend on your total taxable income for the financial year. As of the 2021-2022 financial year, the tax rates for individuals are as follows: - For individuals earning up to $18,200, there is no tax on the capital gains. - For individuals earning between $18,201 and $45,000, the tax rate is 19%. - For individuals earning between $45,001 and $120,000, the tax rate is 32.5%. - For individuals earning between $120,001 and $180,000, the tax rate is 37%. - For individuals earning over $180,000, the tax rate is 45%. It's important to note that these tax rates are subject to change, so it's always a good idea to consult with a tax professional or visit the official website of the Australian Taxation Office for the most up-to-date information.
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• Alok KumarDec 10, 2023 · 2 years ago
  Cryptocurrency earnings in Australia are subject to capital gains tax. The tax brackets for capital gains are based on your total taxable income. As of the current financial year, the tax rates range from 0% to 45%. It's important to keep track of your cryptocurrency earnings and report them accurately to ensure compliance with tax regulations. If you have any specific questions or need further clarification, it's best to consult with a tax professional who can provide personalized advice based on your individual circumstances.
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• rokki74May 19, 2025 · 2 months ago
  As an expert in the field, I can tell you that the current tax brackets for cryptocurrency earnings in Australia are the same as the tax brackets for capital gains. This means that the tax rates will depend on your total taxable income. However, it's worth noting that tax laws and regulations can change over time, so it's always a good idea to stay updated with the latest information. If you have any concerns or questions regarding your cryptocurrency earnings and taxes, I recommend consulting with a tax professional who can provide you with accurate and personalized advice.
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