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Bitcoin Investors vs Bitcoin Business

Purchasing Bitcoin as a personal investment Income tax and GST If you decide to acquire bitcoin as a personal investment, provided you are not carrying on a business of bitcoin investment, you will not be assessed on any profits resulting from the sale. Conversely, you will not be allowed any deductions for any losses made in relation...
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SMSF Annual Obligations

You have a number of obligations as an SMSF trustee, and harsh penalties may apply if you fail to meet them. Here's a checklist of important areas you'll need to take into account each year.

Pay the minimum annual income stream amounts

If your SMSF pays...
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Tax Residency of Individuals

An individual's tax liability depending on whether a person is considered to be an Australian tax resident or a foreign resident. Australian tax residents are assessed on income from worldwide sources, while foreign residents are only taxed on Australian-sourced income. Non-residents are subject to higher overall tax rates, without the benefit of Australia's lower marginal tax...
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Super Reforms: The Transfer Balance Cap and Death Benefit Pensions

In February 2017, the ATO released Draft Law Companion Guideline LCG 2017/D3. This Draft Guideline deals with the treatment of superannuation death benefit income streams under the $1.6 million pension transfer balance cap from 1 July 2017. Where a superannuation interest is cashed to a dependant beneficiary in the form of a... Read More