The Australian government has introduced a bill to put an end to the double taxation of transactions involving bitcoin . Adopters of digital currencies in Australia have for years been charged for the goods and services tax on both the transaction and the digital currency itself . The move still requires parliamentary approval , though the local bitcoin and wider cryptocurrency industry is likely to receive a boost as transactions become cheaper .
The Australian government has introduced a bill to put an end to the double taxation of transactions involving bitcoin. Adopters of digital currencies in Australia have for years been charged for the goods and services tax on both the product and the digital currency itself. The move still requires parliamentary approval, though the local bitcoin and wider cryptocurrency industry is likely to receive a boost as transactions become cheaper.