Bitcoin and Tax
In its online guidance, the ATO has stated its view that Bitcoin (and other crypto or digital currencies that have similar characteristics) are capital gains tax (CGT) assets.
Investment & personal transactions
Where a person or entity…
Property Development and Non-Commercial Losses
ITAA 1997 Div 35 will apply to defer a non-commercial loss from a business activity unless:
you meet the income requirement and you pass one of the four tests
the exceptions apply, or
the Commissioner exercises his discretion.
The…
Tax Free Lump Sum From Foreign Super Fund, Are You Sure?
It is quite common to see that many Australian residents migrated from overseas bringing lump sum amount from their overseas super fund into Australia and being asked by the ATO the nature of the money. Unless otherwise it is…
Visa Data Matching by the ATO
From July 01, 2017, the Australian Taxation Office (ATO) will receive information on holders of a visa from the Department of Immigration and Border Protection, and the data items that will be obtained are:
address history…