Author: Craig Dangar

Author: Craig Dangar

Tax and cryptocurrency

Tax and Cryptocurrency

This article, written from a tax agent’s perspective, provides an overview of the tax treatment of cryptocurrencies, covering aspects like CGT on trades, income from mining, payments in crypto, crypto-to-crypto transactions, staking, holding strategies, losses, reporting requirements, and the importance of professional advice. The focus is on helping individuals understand and navigate the tax implications of their cryptocurrency activities.

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Can I split my income with my spouse?

Can I split my income with my spouse?

This article, written from a tax agent’s perspective, explores the concept of income splitting with a spouse, covering legitimate strategies, restrictions, business implications, superannuation contributions, tax implications, potential risks, and the importance of professional advice. The focus is on informing couples about the possibilities and legalities of income splitting for tax efficiency, emphasising the need for careful planning and compliance with tax laws.

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Buying a business

Buying a business

This article, written from a business advisor’s perspective, provides detailed guidance on what to consider when buying a business. It covers understanding the business, financial health, legal considerations, due diligence, valuation, market analysis, staff evaluation, growth potential, exit strategy, and personal fit. The focus is on equipping potential buyers with the knowledge to make informed decisions in their business acquisition journey.

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What Buy Now Pay Later does to Credit

What Buy Now Pay Later does to Credit

This article discusses the impact of Buy Now, Pay Later services on credit ratings. It covers BNPL basics, credit reporting, potential negative impacts, credit utilisation, building credit history, responsible usage, and consumer advice. The focus is to educate consumers on how BNPL can affect their financial standing and to emphasize responsible financial practices.

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Booking your tax return appointment

Booking your tax return appointment

This article, written from a tax agent’s perspective, promotes the use of online appointments for tax consultations. It outlines the process of booking online appointments, preparing for the meeting, the interactive nature of the consultation, security measures, post-appointment follow-up, and the benefits of online consultations. The focus is on providing clients with a convenient, efficient, and secure option for managing their tax affairs in the digital age.

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What we need for your tax return

What we need for your tax return

This article, written from a tax agent’s perspective, provides a comprehensive checklist of information and documents needed for preparing a tax return. It covers personal identification, income statements, interest and dividends, work-related expenses, rental income, investment details, deductions, health insurance, and additional documents for specific scenarios. The focus is on ensuring that taxpayers are well-prepared with all necessary information for an accurate and efficient tax filing process.

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Using MyGov for your tax return

Using MyGov for your tax return

This article, written from a tax agent’s perspective, advocates for the use of the myGov platform for individuals with simple tax returns. It highlights the platform’s ease of use, pre-filled information, cost-effectiveness, direct ATO access, available guidance, security, and record-keeping benefits. It also advises on when to seek professional tax advice, emphasising that myGov is an excellent tool for straightforward tax situations but may not suit more complex cases.

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What is CGT?

What is CGT?

This article, written from a tax agent’s perspective, provides an overview of Capital Gains Tax, including its definition, calculation methods, reporting requirements, exemptions, and strategic considerations. It aims to educate readers on the key aspects of CGT and emphasizes the importance of professional tax advice for accurate calculation and reporting.

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Property Deductions

Property Deductions

This article, written from a tax agent’s perspective, outlines common tax deductions available for investment property owners. It covers interest on loans, depreciation, repairs and maintenance, property management fees, council rates, insurance premiums, utility expenses, legal and accounting fees, and changes in travel expense deductions. The aim is to inform property investors about potential tax benefits and the importance of accurate record-keeping and professional tax advice.

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Tax on your second job

This article, written from a tax agent’s perspective, addresses the tax implications of having a second job. It covers combined taxable income, tax withholding, potential tax owing, additional levies, accurate income reporting, tax deductions and credits, superannuation considerations, and the importance of professional tax advice. The aim is to inform individuals with multiple jobs about managing their tax liabilities and ensuring accurate and compliant tax filings.

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