As news.com.au reported, the ATO was planning to send out crypto tax warning letters to 350,000 Australians. We are now seeing taxpayers getting these tax warning letters:. ATO Crypto tax warning letter RedditThese letters are intended to educate the taxpayers about cryptocurrency related tax reporting. ATO crypto warning letter receipt RedditATO crypto warning letter receipt RedditTax treatment for cryptocurrencies under Australian tax code is similar to the US tax code for the most part. Recipients of ATO crypto tax notices should seek out a reliable cryptocurrency tax software to complete their tax filing (or amend previous returns).

Source: Forbes June 30, 2020 20:03 UTC