on 13 April 2021
Bitcoin buyers beware the tax trap
Cryptocurrencies like Bitcoin and Ethereum have generated a lot of interest over the past few years, particularly due to the spectacular rise and fall of their market value. From being worth just $1 back in 2011, the value of one Bitcoin today might be as high as $70,000, but that is no guarantee of its value next week!
While the big gains sound like great news for an investor, the flipside to consider is that the ATO will take a slice of that pr...
on 9 December 2020
Granny flats: Tax tips and traps
The idea of adding a granny flat to your property sounds like a great idea. A property to rent out to generate some welcome extra income, or a home for adult children or mum and dad in their later years.
But there are important tax and personal considerations to consider before taking the plunge and digging up the backyard.
Although the Federal Budget proposed significant reform in this area (which we cover later in this article), important tax questio...