Crypto tax in Australia can be complicated. You should be aware of two key areas – your individual (or business) tax, and crypto capital gains tax obligations. Understanding how these interact can help you avoid a lot of headaches and get on top of your crypto tax. In simple terms,...
Category: Cryptocurrency
Crypto Loans: Borrowing Fiat with Cryptocurrency
Whether you’re an individual or business looking to source some cash, taking out a loan is a potential way to secure finance. In recent years, crypto loans have become more popular as a way to obtain finance, particularly as the values of these assets have surged over the past year....
What Are NFTs and How Are They Taxed?
If you could pick out a few buzzwords about cryptocurrency in 2021, NFTs, DOGE, SHIB and Ethereum are probably some of the big ones you can think of. Whilst NFTs have been around since 2015, sales and interest have skyrocketed since February 2021. Since that’s why you’re probably here, let’s...
Crypto Mining Tax: How to report your income correctly
The regulations, reporting and obligations around crypto mining tax can often be quite difficult to understand. Even the information on mining cryptocurrency taxes provided by the ATO, who are leading the world in cryptocurrency regulation and legislation, can be a little confusing. To help you understand your obligations for crypto...
ATO Cryptocurrency Letter: What do you need to know?
In June 2020, the ATO commenced the ATO cryptocurrency letter notification system. For many people, they believe that cryptocurrency trading is anonymous, however this isn’t entirely true. The ATO is leading the world in enforcing the regulation of cryptocurrency and as part of this process, requires exchanges operating in Australia...