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Changes coming for crypto and digital assets

Changes coming for crypto and digital assets

by Team Garnet | Apr 28, 2022 | Investments, Tax News

It is estimated that more than 800,000 Australians participated in the crypto & digital assets market in the last three years. With the release of terms of reference for various reviews into the regulation and taxation of crypto & digital assets, it’s time to...
(FHSS) First Home Super Saver maximum releasable amount increased

(FHSS) First Home Super Saver maximum releasable amount increased

by Team Garnet | Apr 13, 2022 | Investments, Money, Superannuation

The maximum amount that first home buyers can take out of their super under the FHSS scheme will be increased to $50,000 from 1 July 2022. Cost of living pressures coupled with high house prices means that many people in Australia are finding it increasingly difficult...
Are cryptocurrency losses from scams deductible?

Are cryptocurrency losses from scams deductible?

by Team Garnet | Jan 28, 2022 | Investments, Tax News

Cryptocurrency losses and scams are on the rise in Australia, depending on your circumstances, if you’ve been scammed, you may be able to claim a capital loss in some instances. With the recent collapse of a second Australian cryptocurrency exchange in as many months,...
Selling property: don’t forget the clearance certificate

Selling property: don’t forget the clearance certificate

by Team Garnet | Sep 16, 2021 | Investments, Uncategorized

Thinking of selling your property? Don’t forget you’ll most likely need to obtain a clearance certificate from the ATO. With spring weather warming up and the Australian property market is still running hot in all States and Territories. If you’re thinking of selling...
ATO data matching of lifestyle assets extended

ATO data matching of lifestyle assets extended

by Team Garnet | Aug 11, 2021 | Investments, Tax News

ATO is continuing its blitz on individuals with the extension of a data-matching program on lifestyle assets, find out what details will be captured here. Owners of lifestyle assets beware, the ATO has extended its data-matching program for another 2 years. The...
Personal Use and Collectables in Self Managed Super Funds

Personal Use and Collectables in Self Managed Super Funds

by Team Garnet | Jul 2, 2021 | Investments, Superannuation

Contrary to popular belief, your Self Managed Super Fund can actually invest in collectables such as artworks, jewellery and wine as well as personal use assets such as boats, classic cars or other vehicles. However, investment in these assets must meet very strict...
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