RE: Australia soon to recognise DAO's and where I see Skippy
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Re- DAOs, does this mean that if DAOs are treated like businesses under Australian law, and your personal crypto holdings are held by a DAO which you are the ‘director’ of, then the movement of the funds linked to said wallet will not be taxed? 👀
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This is a complex question that requires proper tax advice and financial advice. I will say in my capacity which needs further investigation yes. Which is why I am preparing to enter this industry.
There are already significant tax changes for instance Hive earnings just go onto my income statement and classed as income tax. Unless I hold and it increases than CGT applies but there is a 10k threshold. But it is complex and requires a tax professional response.
Thanks fren.