The mayor of Gold Coast, a city in Australia, has called on residents to pay taxes with bitcoin.
Bitcoin taxes
Mayor Tom Tate shows no bones about it. His city, Gold Coast, Queensland has a population of about 700,000. If it were up to Tate, residents would pay taxes in bitcoin.
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He’s talking about municipal or local property taxes. The mayor says Gold Coast City Council is open to seeing bitcoin as a payment option.
Tate is a famous man in Australia’s largest city. He is also known as “the man of the people”, according to Cryptopolitan. In 2016 and 2020, he won the elections by a large margin.
The city will announce the annual budget next week (June 14). It is estimated that rates will rise by 4%. However, the mayor has chief investment officer Work to promote “innovation” and explore “joint ventures” in the public sector.
A representative from Blockchain Australia advised that the city council fully understand the risks before taking the actual step of embracing bitcoin.
American colleagues
Tate has many colleagues on the other side of the planet who do the same. The most famous mayor of Miami is Francis Suarez, who distributed bitcoin to the population.
Eric Adams from New York had already paid his salary in bitcoin. However, this seemed primarily a marketing ploy, as mining is now prohibited in the area.
The US city of Portsmouth also accepts taxes on bitcoin. In Cole Valley, Missouri, Mayor Jason Stewart put bitcoin on the map.
He wants to distribute $1,000 of Bitcoin to the residents of his city. It is also a small town: its population is less than 2,000.
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