By CCN.com: It will now be harder for Australians to under-declare or over-declare the taxes they owe on their crypto holdings or transactions. This follows an announcement by the Australian Taxation Office (ATO) that it will collect bulk records from cryptocurrency businesses in the country. In a statement, the tax collection agency indicated that this will be done to enhance accuracy in tax compliance: The Australian Taxation Office (ATO) is collecting bulk records from Australian cryptocurrency designated service providers (DSPs) as part of a data matching program to ensure people trading in cryptocurrency are paying the right amount of tax.

The post Australia Chases Crypto Investors for Every Tax Dollar Owed in Shakedown appeared first on CCN