Cryptocurrencies, once again surging in popularity, have a unique tax treatment that every taxpayer dealing with cryptocurrency should be aware of.
The tax treatment of cryptocurrency
Category: Article
Dealing with excess before-tax super contributions
Making extra before-tax contributions into super can help boost a person’s retirement savings. But fund members need to be aware of the implications for when they exceed the concessional contributions cap.
Managing your superannuation transfer balance account
Most people think of retirement as a time to put your feet up and relax, but it can also be a time when pre-retirees and retirees alike actually need to flex the grey matter.
When it comes to real estate and CGT, look at timing
When you sell or otherwise dispose of real estate, the time of the event (when you make a capital gain or loss) is usually when one of the following occurs…
Insolvency reforms to support small business
The Australian Government has made changes to the ATO’s insolvency framework to help more small businesses restructure and survive the economic impact of COVID-19.
Some money is not counted as ‘income’ by the ATO
It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However some of these amounts may be used in other calculations, and may therefore need to be included elsewhere in your tax return. The ATO classifies the amounts that it doesn’t count as
SMSF sector continues to rapidly grow
The latest annual statistical report from APRA has been released, covering the 2020 income year but only made public at the end of January 2021. Total superannuation industry assets were $2.9 trillion as at 30 June 2020. Of this total, $1.9 trillion was held by APRA-regulated superannuation entities and $0.7 trillion was held by self-managed
Unexpected lump sum payment in arrears?
Do you have an unexpected lump sum payment in arrears? There’s a tax offset for that! We explore the options available.
New Director Identification Number regime
The legislation putting the regime in place has already been passed in June last year, but the scheme is not yet in operation.
Vehicle benefit FBT treatment changes under COVID-19
The special circumstances that coronavirus has thrown our way looks like having some very practical outcomes on certain areas of fringe benefits tax.
Natural disasters and help with your tax
Destructive events means loss of income for the people – both directly and indirectly. We review what options are available to those affected by natural disasters.
Single Touch Payroll – When your reporting can cease
A business may no longer be required to lodge single touch payroll (STP) reports for a number of reasons. Depending on your business’s situation and circumstances, what you need to do may be different.