An old chestnut revisited: is Bitcoin money?
Published Date: 15 Sep 2025
The question of whether Bitcoin constitutes money according to the common law in Australia is a very sexy topic because it has tax implications for the 22% of Australian adults who own it and are in profit. The recent Wheatley case supports the conclusion that it is Australian money, leaving many commentators suggesting that this may call into question whether it can be taxed as a CGT asset. This article pragmatically explores the implications of the Wheatley case for the taxpayer and the Commissioner. In doing so, the author analyses how it is that Australian currency is not treated as “property” for CGT purposes and extrapolates what this means for the taxation of Bitcoin.
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- Published By: Sonia Mascolo
- Published On:15 Sep 2025
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