Cryptocurrency tax obligations
Cryptocurrency under the microscope this tax time The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Read More…
Reporting asset disposals for CGT
ATO’s data-matching capabilities increase Close attention being paid to capital gains made on shares, property and cryptocurrency. Therefore, it’s important to let us know about any asset disposals (which can Read More…
Data matching cryptocurrency
Cryptocurrency data matching program The ATO is collecting bulk records from Australian cryptocurrency designated service providers (‘DSPs’) as part of a data matching program to ensure people trading in cryptocurrency Read More…
Cryptocurrency
Transacting with cryptocurrency With interest in cryptocurrencies (such as Bitcoin) increasing, the ATO has issued guidance regarding various tax consequences of transactions involving cryptocurrencies. Any capital gains made on the Read More…
SMSF investing in cryptocurrencies
Bitcoin and cryptocurrencies like bitcoin are not money but are capital gains tax (CGT) assets If an SMSF transacts in cryptocurrencies, SMSF trustees and members need to be aware of Read More…