Construction Worker Tax Deduction Checklist

The income tax rates in Australia are progressive, which means that the higher your earnings are, the higher percentage you pay. Same rules apply to construction worker. It is imperative to know the tax deductions that you are eligible for to minimise your tax bill. Let us take a look at some of the common[…..]

ATO Warns: Don’t Hide Your Cryptocurrency Transaction

The Australian Taxation Office (ATO) is issuing this information sheet to make sure Australians are aware of their tax obligations when using cryptocurrency such as Bitcoin. From a taxation perspective, the ATO’s view is that transacting with cryptocurrencies is akin to a barter arrangement, with similar tax consequences. If you are trading in crypto, you’re required to[…..]

Why Is It Important To Keep Cryptocurrency Records & Reports For Your Annual Tax Return

Wallet Addresses Every time you send cryptocurrency to another wallet, the transaction is recorded. For every single transaction, there is an entry with your wallet address and the wallet addresses of the individual or business you sent funds to. All these transactions are also captured with the date and time stamps. Asides from this, all[…..]

What Is All About “1080 Tax Offset 2021”?

Millions of Australian workers are set to enjoy a tax offset for a longer period, thanks to the federal government. This is a plan that targets the low and middle-income earners in Australia. There are plans to extend the tax offset, which means that the workers will keep most of their income. The tax offset[.....]