[1 It is now difficult for Australian startups to do business using bitcoin as its purchases will now be viable for sales tax.
[2] This comes after the Australia’s tax authorities ruled that bitcoin transactions will be subject to the goods and services tax (GST) mainly to bitcoin exchange business.
[3] The ruling suggests that the cryptocurrency is not likely to be classed as “money” in the near future, and therefore the tax will make bitcoin business quite expensive.
[Source] http://www.theguardian.com/technology/2014/dec/19/bitcoin-hit-tax-blow-australia
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