[2014-11-15] CD: Australian Government: Welfare Applicants Must Declare Bitcoin

[LiteCoinGuy]

Australian Government: Welfare Applicants Must Declare Bitcoin Assets

A small addition to a pension application form provoked interest in Australia yesterday, with its request that applicants declare their "cyber currency" assets such as bitcoin.

A printed reference to bitcoin value in a government-issed document such as this, according to a digital currency legal expert, "legitimizes the concept of digital wealth beyond a niche area".

http://www.coindesk.com/australian-government-welfare-applicants-must-declare-bitcoin-assets/

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[Rampton]

It was only a matter of time before they started making people do this. You could have large stocks of bitcoin and still claim welfare, though of course it could be very hard to prove that you own any if you said you didn't, especially if they had no idea about it in the first place  .

[Chavez]

I wonder how long it is before other countries start doing this? I don't believe you have to declare them in the UK yet, but maybe they will fall under assets or something.