Experience tells you what to do; confidence allows you to do it.
MMT Accountants + Advisers is a firm that prides itself in providing the highest level of professional service to its clients in all facets of their financial and business situations including financial reporting, accounting, taxation planning, auditing and superannuation. The firm’s success is based on seeing its clients succeed, grow and create wealth from their endeavours.
MMT Accountants + Advisers was established in 1980 at Caringbah and in 1985 relocated to Hurstville. As a result of firm growth and the successful integration of other accounting practices, MMT expanded to include an office in Sydney CBD and is considered a leading practice in the St George and Sutherland Shire Area.
If you have a digital coin, is it real? And if it’s real do you have to pay tax on it? According to the Australian Taxation Office (ATO), the answer depends on how you are using it and why.
The ATO recently released its position on the tax treatment of the virtual coin bitcoin and other virtual currencies - much to the chagrin of proponents. The ATO’s view is that bitcoin is not money or a foreign currency, and the supply of bitcoin is not a financial supply for GST purposes. However, bitcoin is a CGT asset.
So, what does all this mean?
The legislation to repeal the Minerals Resource Rent Tax passed the Senate earlier this month along with a series of concessions funded by the mining tax.
Many of the small business related measures were repealed without amendment. These include:
A mostly upbeat tone to the annual general meeting season, including well-received updates from ResMed, Qantas and AMP, spurred shares higher on Friday to ensure a second straight week of gains.
Sleep therapy giant ResMed said its first quarter revenue increased by 6 per cent to $US380 million ($433.84 million), which was buoyed by recent product launches but dampened by weaker growth in the main US market.
Qantas made a pre-tax profit in the first quarter as growth in capacity in the domestic market ground to a halt and competition eased on international routes.
The timing and pricing of Medibank’s sharemarket listing is ‘laughable’ and the investment bankers running it need a “sharp and powerful uppercut”, Morningstar’s head of equities research Peter Warnes has told clients.
The Tax Office is keeping a close eye on foreign banks as part of its push to stop money being sent offshore by wealthy individuals.
Don't wait for the perfect moment; take the moment and make it perfect.