income tax

How a millionaire pays no income tax

To read The Age article click here.

Laundry Claims

From Tax & Super Australia: This tax time, the ATO, as usual, has nominated some tax claim hot spots that it will be paying attention to — and which you could warn clients who may be likely to claim these deductions with abandon. For example, the ATO has already flagged that it will be checking […]

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 […]

Bitcoin, cryptos and your taxes

The central premise to be “outside of the central banking monetary system” and the “way of the future”. If you own or are thinking to own cryptocurrencies, you should not be confused with that those that disagree with Bitcoin being money and those people not understanding it. They do, especially the Australian Taxation Office (ATO) […]