A top executive from a prominent Australian citizen group has publicly endorsed the planet’s biggest cryptocurrency by announcing her first ever Bitcoin purchase.
Emilie Dye, director of policy in the Australian Taxpayers’ Alliance, or ATA, tweeted on April 1 that she had bought her first Bitcoin:”Currently, I made my first Bitcoin purchase. Wahoo!” This triggered excitement in the crypto community, with the tweet amassing about 5,900 likes as of press time.
Dye certainly didn’t expect the excitement and later elaborated:
“I couldn’t have asked for a warmer welcome to the Bitcoin fold. If anything, the number of opinions and appreciates shows tens of thousands are invested in Bitcoin and confidence is high. Feeling a lot more secure in my investment, if that is possible. Thank you !”
BTC tax situation in Australia
The ATA is a substantial activist and advocacy organization in Australia. They are dedicated to promoting the rights of local citizens, and frequently oppose over-regulation and overtaxation. Cointelegraph reached out to Dye with additional inquiries and will update when we hear back.
The ATA’s most recent move towards crypto comes amid intense international and local financial turmoil. Yesterday, Australia’s major stock market index, ASX 200, dropped nearly 2 as shares of the country’s major banks, such as Commonwealth Bank of Australia and Westpac, sold off.
According to Australia’s official guidance framework on crypto taxation, cryptocurrencies for example Bitcoin are subject to capital gains taxes as a type of property. In a March 12 interview with Cointelegraph, the Australia Tax Office said that they had established a large effort to prompt as many as 350,000 crypto investors to comply with their tax obligations.