Goods and services tax: the GST implications of transactions involving bitcoin

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.

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 As a result of these amendments, the view contained in GSTR 2014/3 is no longer current.

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.