A top executive from a prominent Australian taxpayer group has publicly endorsed the world’s biggest cryptocurrency by announcing her first ever Bitcoin purchase.
Emilie Dye, director of policy at the Australian Taxpayers' Alliance, or ATA, tweeted on April 1 that she had bought her first Bitcoin: “Today, 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 clearly 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 comments and likes shows thousands are invested in Bitcoin and confidence is high. Feeling even more secure in my investment, if that is possible. Thank you all!”
BTC tax situation in Australia
The ATA is a major activist and advocacy organization in Australia. They are committed to promoting the rights of local taxpayers, and frequently oppose over-regulation and overtaxation. Cointelegraph reached out to Dye with additional queries and will update if we hear back.
The ATA’s latest move towards crypto comes amid extreme global and local economic 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 like Bitcoin are subject to capital gains taxes as a form of property. In a March 12 interview with Cointelegraph, the Australia Tax Office said that they had launched a major campaign to prompt as many as 350,000 crypto investors to comply with their tax obligations.