Introduction of Digital Currency Exchange Register: Cryptocurrency Tax Tracking

  New requirements for digital currency exchange providers will give further transparency to the regulators about trades and tax obligations of Australians investing in cryptocurrency.  Rules that came into effect yesterday mean that cryptocurrency exchanges will need to sign up to a new Digital Currency Exchange Register, and transactions exceeding $10,000 must be reported to AUSTRAC in…

When is the Best Time of Year to Start Building?

  For people building their dream home, one of the biggest questions is about timing. When is it best to start work? A recent article from Realestate.com has the answers your looking for.  The average Australian house can take anywhere from four to 12 months to build, depending on the builder, construction method, complexity of the…

Pitch supports innovation in the Hunter

Eight regional entrepreneurs pitched their innovative ideas to a full house of investors, industry leaders and business people at The Lock Up this month as part of the Business Centre’s Start House 100 Incubator Program. After working their way through the 12-week program, these eight start-ups presented their best cases to an impressive guest list…

Instant Money Transfers with New Banking Technology

Terry Millet, Chief executive office of Newcastle Permanent, advertised new payment services which launched earlier this year and will forever change how Australians make electronic payments and handle money. You may not have heard much about these new services—Osko by BPAY and PayID—as not all financial institutions, including three of the four major banks, have fully…

The Rise of Bitcoin and SMSF Investment Strategies

With the meteoric rise of bitcoin over the past year, popular interest in it and other digital currencies has grown exponentially. The SMSF community too has been very interested, with a growing number of trustees branching out to include digital currencies in their investment strategies. SMSFs are the only vehicle through which investors can include…

Jail Time for Employers who don’t pay super

Employers who fail to pay super entitlements to their employees, under the Tax Office’s direction, will be subject to court-ordered financial penalties as well as up to 12 months’ imprisonment. And directors of companies that don’t pay super will come in for special attention with a “director identification number” to help the Tax Office identify those directors who are…
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