Australia is becoming fairly bitcoin friendly, yeah?
Do you remember the name of this bitcoin ATM network? I'd like to look up their fees and premiums over fair exchange.
Bitcoin ATMs are a fantastic idea, but where I live they all charge a ~10+% premium over the price to buy bitcoin (or under to sell). So it's never the most efficient buying or selling option. In fact, it's worth the wait for other transactions to clear just to get a fair price.
Here is the actual segment:
https://www.facebook.com/7newssydney/videos/1720556641301795/The thing about bitcoin ATMs in australia is, as to my understanding beforehand bitcoin buyers in australia had to pay a 10% GST(equivalent to VAT in europe) on top of the current bitcoin price which is marked up. And when you make a purchase with bitcoin you'd have to pay another 10% GST, so basically double taxing.
New laws rolling out in 2 days will mean that there are no taxes when you buy bitcoin, only taxes when you buy something with BTC. So thus is the reason of this boom in interest in Australia regarding bitcoin. GJ australian gov on this one.
So basically they were not treating bitcoin as a currency when you bought it, which means you had to pay VAT.
But when you are buying something with bitcoin, it suddenly is currency and you have to pay VAT on the good you are buying.
Good thing they are changing this to be in line with other countries stance on bitcoin status.