How SMSF’S Can Buy And Sell Cryptocurrencies
Australians who are wanting to invest in cryptocurrencies for your SMSF will need a secure digital wallet. A digital wallet similar to a bank account in the crypto world. You will also need an account with a crypto exchange, the crypto equivalent of an online broking account. There are dozens of digital wallet providers, but […]
FBT Exemption For Retraining Employees Has Been Passed Through Parliament
The Treasury Laws Amendment (2021 Measures No. 4) Bill 2021 has been passed through both houses of parliament. This means that employers will be given an exemption from FBT if they provide education or training to a redundant, or soon-to-be redundant, employee for the purpose of assisting that employee to gain new employment. This exemption […]
Small Businesses Encouraged to Pay Attention to Key Areas and Act Now in EOFY Tax Planning
Many Australians are guilty of leaving their tax planning until the last minute. Tax advisors are getting in early this year, with a particular warning to small businesses to act as soon as possible. The economic uncertainty of the 2020–21 financial year should motivate SMEs to review tax planning strategies immediately and not at the […]
Last Minute End Of Year Financial Year Tax Planning Tactics
The financial year has almost drawn to a close, however there are still many effective strategies you might be able to put in place. These strategies will ensure that you pay no more tax than you have to for the 2020-21 year and maximise any refunds you might be entitled to. Although the best tactics […]
CGT and FBT Exemption Draft Legislation Released
The Australian Government has published two pieces of draft legislation which were originally announced in the most recent federal budget from October 2020. The first piece of legislation which has been released include measures to exempt employers from the 47 percent fringe benefits tax (FBT). The second piece of legislation released provides a capital gains […]
Tax Impacts for Property
Recent changes for property owners have made the buying and selling properties a bit harder from a reporting perspective.