Investors

From Shares to Investment Trusts, to Fixed Interest, to digital currency we know the pitfalls and we know what to do to get that Tax Return completed.

Many Australians invest in property, financial markets and other assets, both in Australia and overseas. Managing the tax on your investments can help you increase your wealth. The ATO’s data matching and information-gathering capabilities are significant and cover many capital transactions and investment revenue streams. Be alert to the tax consequences of your investments by talking to us at GoTax.

Cryptocurrencies and digital assets
The Tax Office now matches transactions from digital exchanges, it is important to ensure cryptocurrency gains and losses and capital gains are correctly reported.

Capital gains tax planning
Knowing in advance when you need to dispose of assets can be a critical determination in minimising your tax impact.

The timing of when you sell assets and the capital gains tax consequences can be important. Holding eligible assets for at least 12 months to access the 50 per cent capital gains tax discount for individuals is one of the factors that needs to be considered,.

Foreign Income and Investments
Australian tax residents with overseas assets need to include any capital gains or losses and any income received from overseas. If you have paid tax overseas, you may be entitled to a foreign income tax offset.

The Tax Office also has its tentacles embedded in other countries and the transfer of relevant tax information is readily available to them.

Investment Deductions
Income tax deductions are available for expenses incurred when you earn interest, dividends or other investment income. There are some deductions you cannot claim against exempt dividends or other exempt income. Most costs incurred in relation to earning of that income is generally deductible. These could include: interest on borrowings, management fees, adviser fees, seminars, education, travel, publications and the like.