I saw this a couple of weeks back in an email and was planning to write a post on it, but I think you have summarised it better than I would have.
It is a real game changer. It paves the way for more exchanges, bitcoin ATMs etc., plus clearer rules for those trading on localbitcoins.com. No need to worry about keeping turnover below $75,000 to avoid triggering GST now.
Thanks. What is the best exchange in Australia to sell Bitcoins on? I mean "sell". I want AUD for XBT. Please check out my posts about Poloniex and Bittrex. 2 Years back I also had terrible headaches with Coinbase, don't trust they work right when I sit in Australia. What is the most reliable and trustworthy exchange when it comes to selling your bitcoins?
I have used CoinJar and Local Bitcoins. I mostly used local bitcoins these days, because there are a variety of sellers, so sales can be spread among them so I am not hitting a withdrawal limit of an exchange.
I would be interested in other opinions of Australian exchanges, especially for buying. (I actually did most of my buying back in the day with a German bank account from when I lived there and did some freelance work for a company there.) Market prices in AUD seem to be slightly higher than you get by converting the USD price into AUD, so perhaps we have more buying demand here than elsewhere.
FYI: https://www.buybitcoinworldwide.com/australia/