The Government has released an Issues Paper seeking feedback on Initial Coin Offerings (ICOs) in Australia and the application of Australia’s regulatory framework to ICOs. The ICO is a relatively recent financial innovation that is attracting significant attention as a niche form of fundraising. ICOs rely on Distributed Ledger Technology (DLT), such as blockchain, and…Details
The ATO has advised that the Taxable Payments Reporting System (TPRS) protected $2.7b from being lost to the black economy in the building and construction industry in the 2015/16 financial year.
There are a number of things that need to taken care of for tax purposes prior to moving overseas. One such thing is ensuring the assets of a related discretionary trust does not trigger a capital gains tax (CGT) event.
Recently, the Australian Taxation Office (ATO) has issued a warning for individuals who own a holiday home and claim certain deductions against their income.
Recently the federal government introduced legislation intending to implement a Director Identification Number (DIN) under Australia corporations law. This means that, as a director of a company registered in Australia, you will be required to obtain a DIN. This DIN will be a unique identifier and you will only have one for your entire life as…Details
Single Touch Payroll (STP) has been introduced into the Australian tax system to combat areas of taxpayer non-compliance of PAYG withholding and superannuation guarantee obligations. Past legislation has been enacted which brings this new payroll system into commencement from 1 July 2018.