New HELP Repayment schedules
From 1st of July 2019 a new payment minimum of 1% at income of $45,881 and a maximum threshold of 10% at $134,573 For comparison here are this years HELP rates: 2018–19 repayment income thresholds and rates for HELP, SSL, ABSTUDY SSL and TSL Repayment income (RI*) Repayment rate Below $51,957 Nil $51,957 – $57,729 […]
The Age: More on Tax & Bitcoin Scam
From today’s age: Don’t be afraid to hang up. Victorians have been warned against a cryptocurrency scam after fraudsters posing as debt collectors convinced victims to deposit more than $50,000 into a bitcoin ATM. The victims, who are all from the eastern suburbs and believed to be migrants, were told they would be arrested if […]
Crypto Record Keeping requirements
The Australian Tax Office (ATO) requires the following records to be kept in relation to cryptocurrencies. the date of the transactions the value of the cryptocurrency in Australian dollars at the time of the transaction (which can be taken from a reputable online exchange) what the transaction was for and who the other party was […]
Have a short-term rental? The ATO may know
According to the ATO their are approximately 190,000 properties available for short term rentals such as Airbnb, using their “data matching” capabilities they shall be querying any understated or omitted income from owners. Therefore, it is vital that you have up to date and comprehensive record keeping so that all income and deductions can be […]