[Link] Australian cryptocurrency investors can’t be trusted to keep transaction records themselves, the ATO says

Read: 24/11/2021 www.businessinsider.com.au

As first-time investors continue their rush on cryptocurrencies, the Australian Taxation Office (ATO) says it can no longer rely on taxpayers to navigate the complex world of income tax, capital gains, and blockchain record keeping on their own.

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[Link] Morrison considering tax cut extension that could deliver $1000 extra to millions

Read: 15/11/2021 www.9news.com.au

Millions of Australians could be $1000 better off as the Morrison Government considers extending tax cuts. The Low and Middle Income Tax Offset provides a maximum benefit of $1080 to those who earn between $48,001 and $90,000.

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[Link] Adelaide father-of-three Joshua Luke Matheson handed five-year jail term over $500k tax fraud

Read: 7/11/2021 www.abc.net.au

An Adelaide man who made up employers and income to defraud the Australian Tax Office out of half a million dollars has been jailed for five years. Joshua Luke Matheson, 34, was found guilty by a jury of dishonestly obtaining and attempting to dishonestly obtain a financial advantage by deception.

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[Link] ATO matches insurance info on luxury goods with declared incomes to catch out tax cheats

Read: 30/7/2021 www.abc.net.au

About 300,000 Australians who may have made purchases of luxury cars, private jets, yachts, thoroughbred horses and artwork are being warned by the Australian Taxation Office (ATO) to declare all their income or they could face a review or audit.

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[Link] Labor hopeful withdraws candidacy after party’s tax change

Read: 28/7/2021 www.smh.com.au

The executive director of progressive think tank Per Capita, Emma Dawson, has withdrawn from federal Labor’s preselection contest for the seat of Melbourne after voicing her disgust over the party’s decision to support tax cuts for high-income earners.

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