Part 7 - Cryptocurrencies, Taxes and the ATO br br DO NOT attempt to avoid paying taxes – despite popular belief cryptocurrency transactions are regulated and easily traceable br br If you hold your bitcoin for 12 months or more before selling you may be eligible for a 50 capital gains tax concession br br Selling one kind of cryptocurrency for another is considered a taxable event and subject to capital gains tax br br Record keeping is much easier to do if you minimise the amount of exchanges you use br br Use an accountant who has experience filing tax returns involving crypto br br