Australian Federal Budget 2022 has been released on 25 October. It states that Bitcoin would continue to be classified as digital asset rather than foreign currency for tax purposes, which would remove uncertainty following the Government of El Salvador’s adoption of Bitcoin as a legal tender. Therefore, Bitcoin investors are subject to capital gains tax treatment when they profit from selling the asset. However, the central bank digital currency (CBDC) would be treated as foreign currency.
Source: https://cointelegraph.com
