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brisbane • sydney • melbourne

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A collection of updates, articles and papers written by The Little CFO & The Little CFO Legal

ATO issued guidance on Crypto

The ATO has issued guidance to avoid errors:


✔️ Deduct capital losses in the same year they occurred.


✔️ Carry forward net capital losses to later income years to offset future capital gains.


✔️ When transferring cryptocurrency from one wallet to another, it is not considered a CGT disposal if ownership of the coin is maintained.


✔️ Get the cost base right by including things like brokerage fees, transfer costs, platform costs, borrowing expenses, interest on loans and legal fees.


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Current as at publication date.

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