Taxation of cryptocurrencies in Australia: How to avoid some common traps

Cryptocurrency has emerged as an alternative digital asset at the present time of uncertainty and of automation of businesses. The initial advantage of cryptocurrency was the apparent obscurity of its users. However, with time, as  cryptocurrency evolved to become mainstream, given the resulting  enormous sums linked by blockchain-based systems, governments around the world, including in…

How Are Different Trust Types Taxed

How Are Different Trust Types Taxed?

A tried and true method of investment, trusts are generally and commonly known as being for the wealthier elements of society. A trust however is a highly versatile tool that individuals  and businesses can use to align with and achieve their particular investment, financial or personal goals. They can also incur a number of taxable…

Jobkeeper Repayments – Tax Deductible

Jobkeeper Repayments – Tax Deductible?

The end of the month will see the end of the Jobkeeper payment scheme from the government.  Eligible businesses who choose to voluntarily repay an amount from the Jobkeeper pay that they were given may be able to claim a tax deduction if they treated the payment correctly as assessable income. A voluntary repayment of…

Self Education Expenses

Self-Education Expenses

Individuals who partake in self-education may be able to claim a deduction for their expenses if the education is related to their work or if they receive a taxable bonded scholarship. Courses eligible for claim You are only eligible to receive a deduction if the course has a sufficient connection: To your current role and…