Could Bitcoin, the digital currency agiley disrupting traditional financial systems, be an Aussie innovation? What is Bitcoin anyway? This Crikey Clarifier should help.
Why is the ATO interested in the alleged ‘founder’?
The Australian Federal Police yesterday searched Wright’s home in Sydney on behalf of the ATO. A spokesperson for the ATO declined to comment about the search, citing confidentiality reasons.
While the documents, unable to be verified by the ATO due to confidentiality reasons, point to Wright being concerned about how his Bitcoin might be taxed, Business Insider has stated the search could be related to a disputed tax return and millions claimed in tax credits for Wright’s other company, Hotwire.
http://www.crikey.com.au/2015/12/10/is-bitcoin-an-australian-innovation-and-can-it-be-taxed/
