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🚨🇦🇺Australian #Court Ruling May Trigger $640M in Bitcoin Tax #Refunds
🔹ruling: Judge O’Connell #declares $BTC as money, not a CGT asset
🔹Impact: Challenges ATO’s decade-old stance #taxing Bitcoin disposals as capital gains events
🔹#Potential refunds: Up to $640M in CGT could be returned if ruling holds on appeal
🔹Legal precedent: Emerged from case involving 81.6 $BTC theft by a federal police officer
🔹ATO response: No confirmation yet on refund estimates
- Cointelegraph (May 19, 2025)
🔹ruling: Judge O’Connell #declares $BTC as money, not a CGT asset
🔹Impact: Challenges ATO’s decade-old stance #taxing Bitcoin disposals as capital gains events
🔹#Potential refunds: Up to $640M in CGT could be returned if ruling holds on appeal
🔹Legal precedent: Emerged from case involving 81.6 $BTC theft by a federal police officer
🔹ATO response: No confirmation yet on refund estimates
- Cointelegraph (May 19, 2025)
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