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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True or false? Every country has the same cryptocurrency tax laws.CorrectIncorrect
True or false? In Australia, if you make a profit when you sell a cryptocurrency you acquire, you must pay CGT on the gain.CorrectIncorrect
Who do you report your capital gains and losses to?CorrectIncorrect
How often are Australian residents and businesses required to report capital gains or losses?CorrectIncorrect
What are the difference between the reporting requirements of an individual investor and a business?CorrectIncorrect
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.CorrectIncorrect
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.CorrectIncorrect
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.CorrectIncorrect