Quiz: Lesson 004
Now that you’ve completed the ‘Cryptocurrency & Taxation’ lesson, let’s test your knowledge! We strongly recommend completing this quiz before moving on to the ‘Introduction to Charts & Technical Analysis’ lesson.
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Question 1 of 8
1. Question
True or false? Every country has the same cryptocurrency tax laws.
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Question 2 of 8
2. Question
True or false? In Australia, if you make a profit when you sell a cryptocurrency you acquire, you must pay CGT on the gain.
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Question 3 of 8
3. Question
Who do you report your capital gains and losses to?
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Question 4 of 8
4. Question
How often are Australian residents and businesses required to report capital gains or losses?
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Question 5 of 8
5. Question
What are the difference between the reporting requirements of an individual investor and a business?
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Question 6 of 8
6. Question
True or false? The ATO never recognises cryptocurrency as a personal use asset, even when it is kept or used mainly to buy items for personal use or consumption.
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Question 7 of 8
7. Question
True or false? In Australia, swapping or selling one cryptocurrency for another is considered a CGT event. That’s because one CGT asset is being disposed of and another CGT asset is being acquired.
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Question 8 of 8
8. Question
True or false? In Australia, you must report gains from the sale of a cryptocurrency that you obtained for free via an airdrop, for example.
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