Comments on: The virtual world taxman arriveth… in Oz http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/ Tracking the Internet Evolution Thu, 16 Oct 2008 03:27:20 +0000 http://wordpress.org/?v=MU hourly 1 By: Al http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71417 Al Tue, 14 Nov 2006 00:17:01 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71417 <p>Jesse, as Shaun stated, problem is that real world value doesn't materialize until the virtual money is converted back into real-world currency…</p> Jesse, as Shaun stated, problem is that real world value doesn’t materialize until the virtual money is converted back into real-world currency…

]]> By: Jesse Kopelman http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71416 Jesse Kopelman Fri, 03 Nov 2006 22:44:50 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71416 <p>Shaun, if someone says they are going to tax the real world value of your virtual assets, then clearly they have an interest in how those assets are valued. The stretch here is actually very short.</p> Shaun, if someone says they are going to tax the real world value of your virtual assets, then clearly they have an interest in how those assets are valued. The stretch here is actually very short.

]]> By: Shaun Osborne http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71415 Shaun Osborne Fri, 03 Nov 2006 16:27:30 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71415 <p>umm.. let's not get carried away here Hamlet :)</p> <p>the original statement: from: http://www.theage.com.au/news/biztech/virtual-world-tax-man-cometh/2006/10/30/1162056925483.html</p> <p>"The real world value of a transaction may form part of your taxable income, even if it is in Linden dollars,"</p> <p>doesn't in my view naturally (or even comfortably) lead to your statement: (Stop a moment and take in the full strangeness of that statement: a government official from a leading G20 nation just declared they have a taxation policy on a currency that only exists in a virtual world inhabited by subscribers from around the globe.)</p> <p>Quite the opposite.. the spokeswoman is making it perfectly clear that the ATO are interested when the 'real world value' shows up. </p> <p>The passing reference to L$ is almost irrelevant and it's certainly a 'very long stretch' to suggest that the Australian Government has some how made a statement that they have a policy (or any interest for that matter) in any 'in-world' virtual currency..</p> umm.. let’s not get carried away here Hamlet :)

the original statement:
from:
(link)

“The real world value of a transaction may form part of your taxable income, even if it is in Linden dollars,”

doesn’t in my view naturally (or even comfortably) lead to your statement:
(Stop a moment and take in the full strangeness of that statement: a government official from a leading G20 nation just declared they have a taxation policy on a currency that only exists in a virtual world inhabited by subscribers from around the globe.)

Quite the opposite.. the spokeswoman is making it perfectly clear that the ATO are interested when the ‘real world value’ shows up.

The passing reference to L$ is almost irrelevant and it’s certainly a ‘very long stretch’ to suggest that the Australian Government has some how made a statement that they have a policy (or any interest for that matter) in any ‘in-world’ virtual currency..

]]> By: The Internet is People http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71414 The Internet is People Fri, 03 Nov 2006 10:27:00 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71414 <p><strong>Australia to Second Life users: we will tax you…</strong></p> <p>You know a technology has hit mainstream when it’s mentioned by members of government, traditionally the very last people to ever get on a new technology bandwagon. For Australian Massively Multiplayer Role-Players, this is a mixed blessing, not …</p> Australia to Second Life users: we will tax you…

You know a technology has hit mainstream when it’s mentioned by members of government, traditionally the very last people to ever get on a new technology bandwagon. For Australian Massively Multiplayer Role-Players, this is a mixed blessing, not …

]]> By: Jesse Kopelman http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71413 Jesse Kopelman Thu, 02 Nov 2006 23:31:40 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71413 <p>I think the big issue here is that the Australian government as actually specifying that virtual assets are no different than real world assets. This seems to set a precedent for issues like division of property at divorce. It is also seems to increase the liability of the companies run the game as if they were to shut down their servers they would some how have to compensate the players for the loss of assets.</p> I think the big issue here is that the Australian government as actually specifying that virtual assets are no different than real world assets. This seems to set a precedent for issues like division of property at divorce. It is also seems to increase the liability of the companies run the game as if they were to shut down their servers they would some how have to compensate the players for the loss of assets.

]]> By: Mathew http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71412 Mathew Thu, 02 Nov 2006 21:03:44 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71412 <p>In any country (like Australia, where I live), that has an income tax, earnings derived from 2nd Life or any other online enterprise should be taxed the same as anything else; Thats just common sense.</p> <p>Because we have an income tax here, I have often wondered why there is even a debate about taxing online ventures. Income is income, after all.</p> <p>Is the US Tax model so different? Sounds like it is.</p> In any country (like Australia, where I live), that has an income tax, earnings derived from 2nd Life or any other online enterprise should be taxed the same as anything else; Thats just common sense.

Because we have an income tax here, I have often wondered why there is even a debate about taxing online ventures. Income is income, after all.

Is the US Tax model so different? Sounds like it is.

]]> By: The Linkielist http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71411 The Linkielist Thu, 02 Nov 2006 15:50:44 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71411 <p><strong>On line gaming taxed…</strong></p> <p>The US was looking into it, but Australia has decided - tax stuff done on-line. If there is a monetary benefit. I guess a whole load of tax boards are going to be looking at Australia to see if it can actually be done…</p> On line gaming taxed…

The US was looking into it, but Australia has decided - tax stuff done on-line. If there is a monetary benefit. I guess a whole load of tax boards are going to be looking at Australia to see if it can actually be done…

]]> By: Bill http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71410 Bill Thu, 02 Nov 2006 11:02:26 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71410 <p>Taxing virtual activities doesn't seem so strange to me - if you can convert Linden$ to real money, then it's real income. The fact that the transaction is conducted via a computer program doesn't make a difference, any more than if you sold something on e-Bay.</p> <p>That doesn't mean I think it's a good idea that our governments can find new ways to take a share of our money!</p> <p>I think the only reason the US govt is not planning to do it is that they think the amount is currently small, so it is more trouble than it is worth to attempt to collect it.</p> Taxing virtual activities doesn’t seem so strange to me - if you can convert Linden$ to real money, then it’s real income. The fact that the transaction is conducted via a computer program doesn’t make a difference, any more than if you sold something on e-Bay.

That doesn’t mean I think it’s a good idea that our governments can find new ways to take a share of our money!

I think the only reason the US govt is not planning to do it is that they think the amount is currently small, so it is more trouble than it is worth to attempt to collect it.

]]> By: broadstuff http://gigaom.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71409 broadstuff Thu, 02 Nov 2006 10:55:24 +0000 http://gigaom.wordpress.com/2006/11/02/the-virtual-world-taxman-arriveth-in-oz/#comment-71409 <p><strong>Second Life, First World Economics and the Third Degree…</strong></p> <p>Dastardly Dealings in 2nd Life - our man Dark Harlequin reports:.</p> <p>Back in May real life contract law started to impact 2nd Life (see Wired article for example) as sharp practitioners and sharp practices (allegedly) moved in. </p> <p>However, seems like …</p> Second Life, First World Economics and the Third Degree…

Dastardly Dealings in 2nd Life - our man Dark Harlequin reports:.

Back in May real life contract law started to impact 2nd Life (see Wired article for example) as sharp practitioners and sharp practices (allegedly) moved in.

However, seems like …

]]>