Cryptocurrency and Tax
Bitcoin, Litecoin, Ripple, Ethereum – and the list of cryptocurrencies goes on.
With the surge in popularity of cryptocurrencies, the Australian Taxation Office has taken a keen interest in how it can share in the spoils.
- Have you thought about the tax consequences of your investment in these currencies?
- Are you investing as an individual? What about a Company or a Trust? What’s best for you?
- Have you been told your profits will be tax free?
- Are you profits income or capital gains?
- Realised or unrealised gains or losses?
The tax legislation is quite complex and the “answers” will be different from one person to the next depending on your circumstances. Get some accounting and tax advice now so you are fully informed.
We have expertise in the accounting and tax consequences of crypto trading having researched and advised numerous clients on their crypto activities to date.
Please remember that we don’t give financial advice, but we can help you plan for the best tax outcomes based on the investment decisions you make.
Call or email us to find out how your crypto trading impacts your tax.