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Author Topic: [2014-08-21] Digital money hit: taxman demands a take of the bitcoin action  (Read 561 times)
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August 21, 2014, 03:46:16 AM

Individuals will be slapped with capital gains tax upon the sale of their bitcoins — just as they would with shares. However, there will be no tax implication on goods or services purchased for personal use of up to $10,000.

Bitcoin, created in 2009, was the first crypto-currency and ­relies on mathematical algorithms for its value. It is not issued or controlled by a central bank.
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