tax week 2013

If you’re the proud owner of a sizeable bitcoin collection, we have some bad news for you: the Australian Taxation Office has announced it will be taxing bitcoin transactions this year. What’s more, the online currency has been taxable since inception, which means you could owe the ATO money from…

Calculating depreciation is one of the reasons most small businesses hire accountants, and we’re certainly not advising against that. However, changes to the depreciation rules in 2012-2013 mean it might make sense for you to purchase more expensive items before the year is out.

With the new financial year about to start, it’s tempting to sign up for investments that claim to reduce your tax bill. The Australian Taxation Office (ATO) is anxious to remind you that any scheme which appears to promise reduced tax with no risk is likely to be problematic.