Bitcoin for gold: is the swap taxable in Austria?

Swapping bitcoin for gold: is the trade taxable in Austria?Many investors treat bitcoin and gold as alternative stores of value. Austria, however, taxes the two assets differently. Anyone who swaps bitcoin directly for gold can therefore realise a taxable gain, even when no euro ever reaches their bank account.The reason: under Austrian income tax law, only the exchange of one cryptocurrency for another cryptocurrency is generally tax neutral. Gold is a different economic asset. Swapping bitcoin for physical gold therefore generally counts as a realisation. No euro payout is needed for tax to ariseFor taxation, it does not matter whether the bitcoin is first sold for euros and the proceeds are then used to buy gold.A direct swap can be taxable too.Example:Bitcoin bought for €20,000Bitcoin worth €50,000 at the time of the swapGold worth €50,000 received in returnFor tax purposes, bitcoin with a value of €50,000 was exchanged for a different economic asset.In this simplified example, the taxable gain is:€50,000 – €20,000 = €30,000Applying the special tax rate of 27.5 percent gives a tax bill of €8,250.For bitcoin held as new assets, realised gains are generally subject to the special...