Capital Gains Tax

Cryptocurrency and the ATO

By Warren Kruger / January 6, 2019 / 0 Comments

Have you dabbled in Cryptocurrency? Cryptocurrency, such as Bitcoin, is not considered money or foreign currency but in fact is an asset for capital gains tax purposes. If you have purchased and disposed of any Cryptocurrency, this will need to be declared in your income tax return as a capital event. Appropriate records to keep […]

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Investment Tax Issues You Need To Be Aware Of

By Warren Kruger / December 10, 2018 / 0 Comments

Investors must consider a range of tax laws dealing with income, assets and deductions. Even that term “income”, the meaning of which most of us would assume, can take on nuanced shades of meaning when considered regarding investment. For example, investment income earnings such as dividends and interest are typically considered ordinary income. Franking credits, […]

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Expanding the Empire and Retaining the CGT Main Residence Exemption

By Warren Kruger / February 15, 2018 / 0 Comments

A question that surfaces now and then in regard to capital gains is whether the main residence exemption extends to additional land acquired after the time of acquisition of the residence. The short answer is yes — provided that certain requirements are met. It should also be noted that where the exemption applies upon satisfaction […]

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Taxation of Foreign Income Derived by Australian Residents

By Warren Kruger / November 6, 2017 / 0 Comments

Under Australia’s taxation regime, resident taxpayers are subject to income tax on both income derived in Australia and on foreign sourced income. As a general rule, where foreign income is derived by an Australian resident, the gross amount (including any foreign tax paid on the income) must be included as assessable income. A foreign income […]

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Streaming Trust Capital Gains and Franked Distributions

By Warren Kruger / July 5, 2017 / 0 Comments

  The ATO has stated that a trust’s capital gains and franked distributions can, if not prevented by the trust deed, be streamed to beneficiaries for tax purposes by making these beneficiaries “specifically entitled” (more below) to the amounts. This allows beneficiaries to offset capital gains with their capital losses, apply applicable discounts and, subject […]

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The Transitional CGT Relief Measure and Your SMSF

By Warren Kruger / June 10, 2017 / 0 Comments

Transitional capital gains tax (CGT) relief is temporary relief available to all complying superannuation funds, not just SMSFs, for certain CGT assets that would otherwise give rise to a taxable capital gain through the necessary efforts to comply with the new transfer balance cap and new conditions to be applied to transition to retirement income […]

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