Can I claim my crypto losses?
The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return.
Search
Collins Hume
- Jul 25
Tax and the family home
We take a look at the main residence exemption that excludes your home from CGT and the triggers that reduce or exclude that exemption.
13 views
Collins Hume
- Jul 18
What changed on 1 July?
A quick reminder of what has changed for business and individual taxpayers from July 2022.
15 views
Collins Hume
- Jul 11
What to expect from the new Government
We look at what we know so far about the policies of the new Government in a challenging environment and no easy fixes.
2 views
Collins Hume
- Jul 4
Capital gains from crypto, property or other assets
If you dispose of an asset eg property, shares, crypto or NFTs, or collectables you'll need to show a capital gain/loss in your tax return.
20 views
Collins Hume
- Jul 1
Rental property income and deductions
For landlords, the focus is on ensuring that all income received is recognised in your tax return.
12 views
Collins Hume
- Jun 27
Claiming work-related expenses
When claiming WRE there must be a nexus between the expenses you are claiming and how you earn your income. We explain.
17 views
Collins Hume
- Jun 24
Tax Time Targets — Recordkeeping
With tax season upon us the ATO has revealed its four areas of focus this tax season. We start with recordkeeping requirements.
6 views
Collins Hume
- Jun 14
Deduction for skills training and technology
We clear the confusion (as much as possible) on the 120% deduction for skills training and technology announced in the Federal Budget.
11 views
Collins Hume
- Jun 6
What’s changing on 1 July 2022?
We look at the ample number of changes coming into force from 1 July 2022.
26 views
Collins Hume
- May 23
Can I claim a tax deduction for my gym membership?
Can you claim a deduction for your gym membership? The administrative appeals tribunal clarifies.
58 views
Collins Hume
- May 16
Fuel tax credit changes
The temporary halving of excise and excise equivalent customs duty rates has caused a reduction in fuel tax rates.
10 views
Collins Hume
- Apr 4
Employees vs contractors
Every business that employs contractors should have a process in place to ensure the correct classification of employment arrangements.
48 views
Collins Hume
- Mar 30
Budget 2022-23 Summary
The 2022-23 Federal Budget is a safe, ballot box friendly Budget as expected with a focus on cost of living, homeownership, and health.
25 views
Collins Hume
- Mar 28
Immediate Deductions Extended
This measure enables an asset’s cost to be fully deductible upfront rather than being claimed over the asset’s life, regardless of the cost.
26 views
Collins Hume
- Mar 14
Trusts and Trust Distributions
The ATO released guidance that targets how trusts distribute income. Many family groups will pay higher tax as a result of this new approach
70 views
Collins Hume
- Feb 28
Professional Services Firm Profits
The ATO’s finalised position on the allocation of profits from professional firms starts July 2022 with two gateway tests.
7 views
Collins Hume
- Dec 16, 2021
If Santa was an Australian tax resident
A lighter look at the complexity of Australian taxation laws and the year that has been.
9 views
Collins Hume
- Dec 13, 2021
The top Christmas tax questions
Every year, we get asked about the tax impact of various Christmas or holiday-related gestures. Here are your top issues.
17 views
Collins Hume
- Dec 7, 2021
Katapult Design speaks with Collins Hume
It was a privilege to spend some time with Nathan at Katapult Design to find out what makes his business tick and how Collins Hume helps.
43 views