ATO Targets: Cryptocurrency Trade in Australia

When it comes to tax time, cryptocurrency is an area often fraught with underreporting and broad misunderstanding. The ATO is implementing stringent measures to capture lost income tax revenue, which includes hundreds of thousands of taxpaying Aussies. Over the next several weeks, the ATO will notify some 350,000 people that their cryptocurrency earnings and trading […]

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I am an Accountant: Can my clients avoid an ATO tax audit?

Tax time is quickly approaching and as the largest contributor to Australia’s whopping $8.7B tax revenue deficit, “the ATO compliance focus is likely to be on the small business sector” with high-wealth contributing “substantially lower” than some expected. With plans to send hundreds of thousands of “please explain” notices to ordinary Australians, it is worthwhile having the conversation with […]

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