Whether you’re taking your first steps into crypto investing, or you’ve been monitoring the trend since it started. Whether you’ve made it big in Bitcoin, or you’ve tried your hand at multiple cryptocurrencies. Understanding your crypto tax obligations is crucial to ensuring you make the most of your investment.
At Liston Newton Advisory, we recognise the potential for this new currency format. So we’ve made sure we’re across the ATO’s crypto tax regulations, and we can help you take advantage of this new form of investing.
With 40 years of experience, we know the most effective ways for you to structure your tax to meet your business goals.
We're more than capable of handling all your finances. We take a holistic approach to accounting, so we provide a full range of services.
Tax planning is about working towards your long-term goals. And we're on the business journey with you for the long-term.
Technology has changed what's possible in accounting. We're always up to date with new technology, legislative changes, and industry updates.
We know that cryptocurrency is an exciting ride, but it’s important to remember it’s still an investment. And while it’s a digital asset, this doesn’t mean your financial planning should suffer.
We help you understand your tax obligation when investing in crypto. From the way you structure your investments, to choosing the best time to sell your assets, we provide expert advice to ensure you make your crypto investments as tax-effective as possible.
We have worked with Liston Newton's Accountancy and Advisory Team for over a decade. During that time, our business has grown substantially both organically and through purchases. This wouldn’t have been possible without Liston Newton Advisory to assist with our business planning, providing proactive advice and ensuring our accounts were always compliant in a complex and volatile industry.
Liston Newton's Accountants analysed our financial and business situation and helped us implement strategies to improve our position. Their strategies turned our business from making a loss, to recording a 6-month net profit of 36 per cent. And we are now on track to show a 240 per cent increase in turnover over the next financial year.
Liston Newton helped us move our accounting over to Xero. Their Accountant managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.
Tax planning needs to be done by experts. Reach your business goals and keep the tax office off your back.
You can reach your goals and still keep the tax office happy. We can help.
Cryptocurrency is a type of currency that’s 100% virtual. It’s underpinned by blockchain technology, making it extremely secure, and it’s traded entirely online. Each digital transaction is recorded indelibly as a digital record, and powerful cryptographic algorithms keep it safe from external threats.
Not exactly. Blockchain is the technology that cryptocurrency uses to operate. It’s a decentralised digital ledger that records every crypto transaction.
Cryptocurrency is stored in a digital wallet, which is typically held securely on an online crypto exchange (the platform on which you trade crypto).
Cryptocurrency isn’t governed by typical investment income rules. It’s treated by the ATO as property, meaning it comes under capital gains tax rules. So when selling crypto, you get taxed on the difference between the value you bought it for, and its market value at the time of the sale. If your cryptocurrency has grown in value, you’re making a capital gain, and you pay CGT on the profit of the sale. You must declare this capital gain on your annual tax return. If you make a loss on the sale, you’re required to report the loss on your tax return.
A handy guide to help you understand how your cryptocurrency is taxed in Australia, and what you need to do about it. Click here to read all about it.
We help you understand how the way you manage your cryptocurrency can have different outcomes for your tax obligations. Click here to read more.