Treasury Laws Amendment (2017 Measures No. 6) Act 2017 (118 of 2017)

Schedule 1   GST treatment of digital currency

A New Tax System (Goods and Services Tax) Act 1999

2   Subsection 9-85(2)

Repeal the subsection, substitute:

(2) In working out the *value of a *taxable supply, any amount of the *consideration for the supply that is expressed in:

(a) a currency other than Australian currency; or

(b) *digital currency;

is to be treated as if it were an amount of Australian currency worked out in the manner determined by the Commissioner.