LEGAL WORD
Virtual digital asset
Legal term · Tax and technology law
Virtual digital asset
- Type: Legal term
- Area of law: Tax and technology law
1 What it means
The Income Tax Act's term for crypto assets and similar digital tokens, taxed under special rules.
2 Use it in a sentence
Gains from virtual digital assets are taxed at a flat rate.
3 Make it stick
Write your own sentence using Virtual digital asset about a case or topic you are studying this week, then check it against the meaning above.
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