Under Corporation Act 2001 (Cth), Cryptocurrency is categorised as a financial product. If you’ve bought, sold, or traded any goods in cryptocurrency you have a tax obligation to retain the record. Cryptocurrencies are also known as virtual currencies or digital currencies. There are many different types of cryptocurrency such as Bitcoin, Tether, Ether, and so …
Australia is one of countries that has committed to new global standards – Common Reporting Standard (CRS) on the implementation of automatic exchange of financial account information. CRS is a new information-gathered and reporting requirement for financial institution located in participating OECD countries. The Australian government has enacted laws and entered into international agreements from …
Do you know there are 3 Types of Dividends for company shareholders? If you have read our previous post “Comparison on Business Structures” you will find that company is the only structure that can distribute after taxed retain profits to its shareholders. This is so-called Dividends. What are the dividends? When companies make a …