Australia Public Consultation on GST Treatment of Digital Currency

On 29 June 2017, the Australian Treasury launched a public consultation on the Treasury Laws Amendment (2017 Measures No. #) Bill 2017. The legislation would amend the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) and the A New Tax System (Goods and Services Tax) Regulations 1999 (GST Regulations) to ensure that supplies of digital currency receive equivalent goods and services tax (GST) treatment to supplies of money and address issues of double taxation. Currently, consumers …