[2014-08-22] Bitcoin Guidelines a 'Disappointment'; Virtual Currency Not Treated

[erono]

http://au.ibtimes.com/articles/563536/20140822/bitcoin-australia-ato-cyrptocurrency.htm#.U_b8M6OrYU8

The Australian Tax Office, or ATO, has released its guidelines regarding the treatment of cryptocurrency Bitcoin. The ATO has ruled it will not treat Bitcoin as "cash" but only property.  In the report about the tax treatment on Bitcoin, ATO said it is "neither money nor a foreign currency."