At SM Rosen & Co, we understand that cryptocurrency is becoming more and more popular, and with that comes the need for quality accounting services. We are proud to offer our clients professional crypto accounting services to ensure that your finances are always in order.
We have a team of accountants and registered tax agents who are well-versed in all things cryptocurrency, so you can rest assured that your accounts are in good hands. We offer a range of services including taxation, bookkeeping and financial reporting, all tailored to meet your specific needs.
So, if you’re looking for a reliable and trustworthy crypto accountant look no further than SM Rosen & Co. Contact our Gold Coast office today on (07) 5520 3544 to find out more.
The Australian Taxation Office (ATO) has recently released guidance on how it will treat cryptocurrency transactions for tax purposes. The ATO’s position is that cryptocurrency is property. As such—any profits or losses from buying, selling, or trading cryptocurrency must be declared in your tax return.
This means that if you’re a crypto trader or investor, you need to keep accurate records of all your transactions so that you can calculate your capital gains (or losses) come tax time.
At SM Rosen & Co, we can help you with all your cryptocurrency accounting needs, from record-keeping to tax returns. Whether it’s Bitcoin, Ethereum, XRP, Litecoin, or any other digital currency—we’ve got you covered. You won’t have to worry about the ATO breathing down your neck; we stay up-to-date with all the latest tax laws and requirements.
So, if you’re looking for a hassle-free way to stay on top of your crypto taxes, look no further than SM Rosen & Co. Contact us today for more information about our services.
Cryptocurrency mining and staking are popular ways to earn income from digital currencies. If you’re engaged in either of these activities, it’s important to understand how the ATO will tax them.
Generally speaking, any income you receive from mining or staking must be declared in your tax return. This includes rewards in the form of cryptocurrency, as well as any profits you make when selling your rewards.
It’s also important to keep accurate records of all your mining and staking activity, as you’ll need to declare this in your tax return. This includes the date of each transaction, the type and quantity of cryptocurrency involved, and the value of the transaction in Australian dollars.
At SM Rosen & Co, we can help you with all your cryptocurrency accounting and tax needs. We’ll make sure you stay compliant with the ATO. Reach out to our crypto accountants today to get started.
Depending on your need, we can create a solution for you. For example, did you know you could buy, sell and trade crypto through a trust and distribute it to the trust’s beneficiaries (individuals or companies) based on the best tax outcome for each entity?
Contrary to popular belief that crypto is untraceable, it is actually the most public way of doing transactions. When you do any transaction on the blockchain, you are putting that transaction on that public ledger forever to be viewed by anyone. So yes, the ATO can view your crypto transactions.
A digital currency tax specialist is an accountant who is up to date with the latest tax laws surrounding digital currencies. They can advise and help you with your tax obligations, ensuring that you are compliant with the law.
Yes, you may need to pay tax on your cryptocurrency. How you acquired the cryptocurrency and what you used it for will determine the amount of tax you need to pay. For example, if you bought cryptocurrency as an investment, you would need to pay capital gains tax on any profits you make when you sell it.
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