The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between
June 2019 and June 2022, according to the latest ATO statistics.
While cryptocurrency is a relatively small asset class at only 0.16% of the $837bn held in SMSFs, it is a growing asset class, larger than collectibles and personal use assets, and overseas property.
Smaller funds, with an asset value below $200,000, are more likely to have a larger proportion of their value in cryptocurrency.
We'll dive into some of the everyday mistakes and tricky grouping issues that small businesses often encounter when dealing with payroll tax.
Maintaining control over cash flow is undeniably a complex balancing act. It's a challenge that lacks a quick and universal solution.
This article aims to shed light on red-flag indicators that may suggest it's time to consider changing accountants, providing insights into the reasons behind such a decision.