Bitcoin hit with tax blow in Australia

Purchases of bitcoin will now be viable for sales tax, making life more difficult for startups Australia’s tax authorities have ruled that bitcoin transactions are subject to the goods and services tax (GST), suggesting that the cryptocurrency is not likely to be classed as “money” in the near future.The ruling mainly applies to Australian businesses running bitcoin exchanges, which let customers trade real money for the digital currency. The decision means that when bitcoin is bought from