Today the ATO has released "Compliance in focus 2013-14" which replaces their previous annual compliance program booklet. This new online product, which the ATO developed in consultation with tax professionals, will be updated throughout the year to keep you informed of new issues and risks as they arise.
The only constant about tax is change. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), provides us with some of the new tax rules that came into effect in 2012/13.
June 30 is rapidly approaching and it is time to do some urgent tax planning. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year.
What is the general translation rule for foreign currency trading?
What sections of the ATO tax acts is foreign currency trading? That is cash base online trading with no physical goods exchange?
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  • "Hello Taxman! I invested in BTCUSD trading using MT4 trading platform using a broker in HongKong. I am a Australian resident for tax purposes. I used to trade only 2-3 times a month. I made profilts..."

    By: Santosh at Aug 09, 2020 4:05AM

    Post: Foreign currency trading

  • "Hi Mrtax I’m a sole trader with an ABN, I work for myself as a Nanny. Would my home be considered my place of Business/work, where I then travel to my clients home to care for the..."

    By: Jessica at Aug 07, 2020 11:41PM

    Post: Claiming car expenses

  • "No you can't James. The limit of 5000km per year applies to your car not the number of different income activities that you have. So if you claim 5000km against your employment, no cannot claim any..."

    By: Mr Taxman at Aug 07, 2020 12:08AM

    Post: Claiming car expenses

  • "Hi i am on salary and wage and also have a business. I am required to use the same car for both sources of income and have travelled well in excess of 5,000kms each for both. Am i able to claim..."

    By: James at Aug 04, 2020 2:34AM

    Post: Claiming car expenses

  • "Hi, Very informative post and really appreciate the effort you put into it. Every one now a days is trying to gather more information about Forex trading."

    By: Vantagepointx at Jul 29, 2020 6:08AM

    Post: Trading via self managed super fund (SMSF)