A domestic criminal court case in Australia has lead a judge to heavily question the ATO stance on capital gains tax with bitcoin as it “is just another form of money”
Discussion
This is a double edged sword though.
The police can now legally steal your Bitcoin just like they can legally steal your cash.
Because according to the Australian government "there is no valid reason a person should carry $10k in cash" and they automatically assume you're a criminal and you have to PROVE the money was legally obtained and PROVE you were not going to spend it on anything illegal
(Which is impossible so almost nobody ever gets their money back)
Before this ruling the police who were stealing people's Bitcoin were breaking the law, they only changed the law to protect the corrupt cops.
But hey no capital gains tax(unless you are retarded you never had to pay that tax anyway, its only if you exchanged the Bitcoin for dollars that you had to pay it, if you spent rhe Bitcoin like money you never had to pay that tax)
