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‘Biggest Ever’ ATO Deductions Campaign

Emma Zajac
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The ATO has kicked off its taxpayer-focused tax time education campaign, with a series of tailored emails to tax agents and self-preparing taxpayers as it seeks to clamp down on work-related deductions. The tax office has sought to raise awareness of the myDeductions tool in the ATO app to “save hours of work at tax…

Boost your Tax Refund this Financial Year

Emma Zajac
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June 30 is rapidly approaching, which means there are things you should do in the near future to improve your financial situation. Smart tax planning means deferring income while bringing forward expenses. For example, if you have money to spare, think about placing it in a term deposit with the interest maturing after June 30.…

Introduction of Digital Currency Exchange Register: Cryptocurrency Tax Tracking

Emma Zajac
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  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…

Instant Money Transfers with New Banking Technology

Emma Zajac
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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

Emma Zajac
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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…
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