Goods and Services Tax Ruling
Goods and services tax: the GST implications of transactions involving bitcoin
||There is a Compendium for this document. GSTR 2014/3EC
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Notice of Withdrawal
Goods and Services Tax Ruling GSTR 2014/3 is withdrawn with effect from today.
1. GSTR 2014/3 will cease to apply to transactions entered into after 1 July 2017, the date that the legislative amendments to A New Tax System (Goods and Services Tax) Act 1999 and the A New Tax System (Goods and Services Tax) Regulations 1999 commenced.
2. From 1 July 2017, digital currency will have the equivalent treatment to money and in certain circumstances supplies of digital currency will be treated as financial supplies. As a result of these amendments, the view contained in GSTR 2014/3 is no longer current.
3. No replacement ruling will be issued. For guidance on the GST treatment of digital currency (such as bitcoin) from 1 July 2017 refer to 'GST and Digital currency' on ato.gov.au.
Commissioner of Taxation
18 December 2017