If you have a digital coin, is it real? And if it’s real do you have to pay tax on it? According to the Australian Taxation Office (ATO), the answer depends on how you are using it and why.
The ATO recently released its position on the tax treatment of the virtual coin bitcoin and other virtual currencies - much to the chagrin of... |
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Planning on giving to charity? Make a donation now and claim the deduction this year. If you donate monthly to charities, think about paying the full year’s worth of donations upfront and take the deduction now.
Operate through a company? If you operate through a company structure and the company has advanced you money during the... |
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The introduction of the debt tax, or the Temporary Budget Repair Levy as it is formally known, may be the only certainty in the Government’s first Federal Budget delivered on 13 May.
The rest – co-payments for doctors visits, deregulated university fees, cuts to family benefits, tightening of access to disability pensions, increa... |
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The ATO has announced that red tape affecting Tax File Number (TFN) applications has been removed thanks to a partnership between the ATO and Australia Post.
TFN applications are now simpler and easier, as they can now be applied for online at www.ato.gov.au/TFNapply and a printout of the application summary can then be verified at one ...
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The ATO has advised that it will acquire details of approximately 20,500 individuals providing contractor services to local government authorities in the 2010/11 and 2011/12 financial years from various local government Council and Shire authorities throughout:
Queensland;
Tasmania;
New South Wales; and
Victoria.... |
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