Blog

April 22, 2024

5 min

Tokenisation of Australian Real Estate

The real estate market is witnessing a transformation through the introduction of blockchain technology, particularly through the tokenisation of real property. Australia’s obsession with both real estate and blockchain technology have made it a perfect melting pot for these technologies.

Using Offshore Companies and Trusts to Avoid Tax in Australia

December 16, 2023

5 min

Using Offshore Companies and Trusts to Avoid Tax in Australia

We explore the legal risks, the Australian Taxation Office’s (ATO) stance, and the fine line between legitimate tax planning and unlawful tax evasion.

Is Transferring Crypto Assets to and from a Centralised Exchange a CGT Event? Crypto Tax Treatment Continues to Discriminate

December 10, 2023

5 min

Is Transferring Crypto Assets to and from a Centralised Exchange a CGT Event? Crypto Tax Treatment Continues to Discriminate

Before assessing the tax implications of transferring crypto assets, it’s crucial to understand what a CGT event is.

Tax guide for foreign companies doing business in Australia

December 10, 2023

8 min

Tax guide for foreign companies doing business in Australia

Doing business in Australia is unlike many other jurisdictions, as tax is the primary level that Government pulls to incentivise economic activity.

How to expand your Australian business overseas – tax, legal and financial considerations

December 10, 2023

5 min

How to expand your Australian business overseas – tax, legal and financial considerations

With advancements in technology, globalization, and free trade agreements, expanding your Australian business overseas is more necessary than ever to compete.

Guide to the Australian Controlled Foreign (CFC) Company rules and the risk of using an Offshore Company

December 10, 2023

5 min

Guide to the Australian Controlled Foreign (CFC) Company rules and the risk of using an Offshore Company

This article will cover the application in unlisted countries (ones not in the above list).

Australian Banks versus Crypto – Debanking and demanding you sell your Crypto

December 10, 2023

5 min

Australian Banks versus Crypto – Debanking and demanding you sell your Crypto

This stance raises significant legal and ethical questions, potentially paving the way for legal action, class action lawsuits or another Royal Commission.

Guide to Incorporating a Company in Australia

December 10, 2023

5 min

Guide to Incorporating a Company in Australia

Understanding the legalities and the roles of key figures is essential when incorporating a company in Australia. This process not only ensures compliance with legal standards but also sets a strong foundation for your business’s future.

December 10, 2023

8 min

How to Use a Family Trust to Save Tax

A family trust can be set up to conduct a family business, hold your family’s assets or any other specific purpose

Family Trusts: The Complete Guide for Australians

December 10, 2023

9 min

Family Trusts: The Complete Guide for Australians

A family trust is a legal arrangement where a trustee (either a person or a company) holds and manages assets for the benefit of the family members, known as beneficiaries. It’s often used as a financial safety net that’s set up to support your family now and in the future.

What is the difference between Tax Planning, Tax Avoidance and Tax Evasion in Australia?

December 7, 2023

6 min

What is the difference between Tax Planning, Tax Avoidance and Tax Evasion in Australia?

Some people take it too far and go into tax avoidance and tax evasion territory. We will explain the difference here. Tax planning, tax avoidance and tax evasion vary significantly in their legal standing and implications.

Can You Rely on the Recent Bendel Decision to Avoid Division 7A on Unpaid Present Entitlements?

April 22, 2024

8 min

Can You Rely on the Recent Bendel Decision to Avoid Division 7A on Unpaid Present Entitlements?

This article examines the implications of the Bendel decision and its potential influence on the treatment of UPEs under Division 7A until an appeal is lodged.

Shareholders Agreements: Complete Guide for Australians

December 6, 2023

8 min

Shareholders Agreements: Complete Guide for Australians

A shareholders agreement is a contract between the shareholders of a company. It outlines how the company should be operated and the shareholders’ rights and responsibilities.

Understanding the Resides Test for Tax Residency: Implications of Taxation Ruling 2023/1

December 5, 2023

5 min

Understanding the Resides Test for Tax Residency: Implications of Taxation Ruling 2023/1

This article delves into the ‘resides test’ for tax residency, examining its application through various case laws and the new ruling. This is one of four tax residency tests.

Is your Foreign Company an Australian Tax Resident? Central Management & Control can Bury You

December 3, 2023

10 min

Is your Foreign Company an Australian Tax Resident? Central Management & Control can Bury You

This article delves into these developments, summarising key ATO guidelines and exemptions, specifically PCG 2018/9 and TR 2018/5, and discussing the informal ‘safe harbour’ conditions.

Australian Tax Residency for Digital Nomads

December 3, 2023

6 min

Australian Tax Residency for Digital Nomads

The evolving landscape of work, especially with the rise of digital nomadism, poses unique challenges in understanding tax obligations and tax residency laws have not kept up. The Australian Tax Office (ATO) has provided specific guidelines that impact digital nomads and their tax residency status in Australia.

Why the ATO non-binding web guidance is “toilet paper”

November 27, 2023

5 min

Why the ATO non-binding web guidance is “toilet paper”

The ATO has a much better product to use, public binding rulings. This explains in detail, the ATO’s formal views on matters that binds the ATO. It does not bind taxpayers, but it is often a useful and well-reasoned foundation to work from.

Are DeFi Interest and Staking Rewards Taxable?

November 22, 2023

5 min

Are DeFi Interest and Staking Rewards Taxable?

Decentralised Finance (DeFi) offers users the opportunity to “lend” their crypto assets to third parties in exchange for rewards, typically in the form of other crypto assets.

Is wrapping a token taxable in Australia?

November 17, 2023

9 min

Is wrapping a token taxable in Australia?

Wrapped tokens remake other crypto assets into versions that work well on certain blockchains. They keep the same 1:1 value as the original crypto.

A clinic on Australian tax on staking rewards – A Post Mortem of Anchor Protocol

November 17, 2023

11 min

A clinic on Australian tax on staking rewards – A Post Mortem of Anchor Protocol

This article contains our opinions on how Australian tax law applies to certain activities. This is not advice and you should seek advice from your tax advisor.

Crypto Gambling Winnings: Taxable or Not?

November 16, 2023

8 min

Crypto Gambling Winnings: Taxable or Not?

This article outlines the current treatment of crypto prizes and winnings for Australian taxation law.

The ATO’s New Position on Lending and Borrowing in DeFi

November 16, 2023

2 min

The ATO’s New Position on Lending and Borrowing in DeFi

Decentralized Finance (DeFi) has reworked traditional financial concepts, including lending and borrowing, into peer-to-peer arrangements with no middleman. A regular taxpayer would think – the tax outcomes should be similar to traditional financial arrangements. But this is not the case.

Do you pay tax on airdrops in Australia?

February 18, 2024

5 min

Do you pay tax on airdrops in Australia?

This article, inspired by insights from Damian Lloyd, Senior Associate, delves into the Australian Taxation Office’s (ATO) stance on airdrops and offers guidance on navigating the taxation landscape.

Do you have to pay GST on NFTs in Australia?

June 9, 2023

7 min

Do you have to pay GST on NFTs in Australia?

If you’re dealing with NFTs in Australia, it would be best to consult with a tax advisor who is familiar with the latest regulations and tax laws.

Is your crypto fund a Public Trading Trust? (Huge tax risk)

June 2, 2023

10 min

Is your crypto fund a Public Trading Trust? (Huge tax risk)

Crypto funds structured as trusts with more than 50 investors may inadvertently become a Public Trading Trust (PTT) which causes the trust to be taxed as a company

Binance Australia Joins Forces with Cadena Legal for Crypto Tax 101 Video Series

June 2, 2023

12 min

Binance Australia Joins Forces with Cadena Legal for Crypto Tax 101 Video Series

Dive into the world of crypto tax with this recent collaboration between Binance Australia and Cadena Legal.

3 Risks for Token Special Purpose Vehicles (Token SPVs)

May 11, 2023

7 min

3 Risks for Token Special Purpose Vehicles (Token SPVs)

It is common practice in Australia for businesses that issue tokens to use a foreign country, which is often less regulated, to reduce the risk of being prosecuted for unlicensed financial services or securities dealings.

How to claim crypto as a personal use asset

May 3, 2023

6 min

How to claim crypto as a personal use asset

Cryptocurrency has gained significant attention and popularity in recent years, with many investors and traders now dabbling in the world of digital currency.

March 23, 2023

3 min

Are crypto staking rewards taxable?

The tax treatment of crypto staking in Australia depends on various factors such as the type of cryptocurrency, the nature of the staking activity, and the individual’s circumstances. In general, if you earn rewards from staking, it is likely to be considered taxable income by the Australian Taxation Office (ATO).

Can you claim crypto losses on taxes in Australia?

March 20, 2023

5 min

Can you claim crypto losses on taxes in Australia?

Yes, you can claim cryptocurrency losses on taxes in Australia, provided that you meet certain conditions. If you are an investor and not a professional trader, dispose of a cryptocurrency and make a capital loss, you may be able to use that loss to offset any capital gains you’ve made in the same income year.

December 20, 2022

4 min

What is Capital Gains Tax?

When you dispose of an asset, you may make a capital gain or a capital loss. If you make a capital gain, you may have to pay capital gains tax (CGT).

How to Calculate Your Crypto Capital Gains Tax in Australia

December 20, 2022

3 min

How to Calculate Your Crypto Capital Gains Tax in Australia

If you’re like many Australians, you’ve probably invested in cryptocurrency at some point over the past few years. And if you’re like most investors, you’re probably wondering how these gains will be taxed.

How do I claim tax losses from the FTX insolvency?

December 15, 2022

2 min

How do I claim tax losses from the FTX insolvency?

Record keeping is important for a number of reasons, but it’s especially important when it comes to tax losses. When you have a record of your losses, you can use them to offset future taxes owed. When you don’t have records, things can get tricky.

Guide to the Small Business CGT Concessions

December 26, 2023

5 min

Guide to the Small Business CGT Concessions

This article aims to explain the eligibility criteria for these concessions, the expanded testing and the concessions themselves.

7 Strategies to Avoid Capital Gains Tax in Australia

December 26, 2023

5 min

7 Strategies to Avoid Capital Gains Tax in Australia

In Australia, capital gains tax (CGT) is a significant consideration for investors, business owners and property owners. However, certain types of assets and investment strategies offer opportunities to avoid or substantially reduce CGT liability.

6 Ways High-Income Earners Reduce Taxes in Australia

December 20, 2023

5 min

6 Ways High-Income Earners Reduce Taxes in Australia

This article explains six of these strategies for people who want to make the most of their tax situation in Australia.

December 19, 2023

10 min

Guide to Starting an Online Casino

This article delves into some of the most suitable jurisdictions for establishing an online casino and more.

December 16, 2023

10 min

Tax on Gambling Winnings in Australia

The key question revolves around the distinction between gambling as a hobby and gambling as a business. Punters who simply win, should seek tax advice and should not approach the ATO for a private ruling without that advice.