The ATO Issues Warning Over Unpaid Crypto Related Taxes

The ATO Issues Warning Over Unpaid Crypto Related Taxes

The Australian Tax Office (ATO) is encouraging accounting professionals to engage with their clients on their cryptocurrency related activity. The ATO acting assistant commissioner, Sylvia Gallagher, confirmed that people as young as 18 years were getting involved in...
Important Information About Crypto Tax In Australia

Important Information About Crypto Tax In Australia

In 2021, the popularity of cryptocurrency rose significantly and consequently became more trusted by the general public. In November 2021, the Commonwealth Bank announced its intentions to allow customers to buy and trade crypto via their banking app. Despite crypto...
Important Information About Crypto Tax In Australia

What Is The ATO Doing To Tax Cryptocurrency?

The (ATO) Australian Tax Office has estimated that somewhere between 50,000 and one million Australians have currently invested in crypto related assets. Many of these individuals have failed, or will fail, to properly report the profits they have made for tax...
Important Information About Trading Cryptocurrency

Important Information About Trading Cryptocurrency

If you buy and sell cryptocurrency on a regular basis with the goal of making a profit, then the profit on disposal of the cryptocurrency will not be subject to CGT. Instead, it will be assessable income as you will be regarded as a ‘trader’ rather than an ‘investor’....