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The taxation of cryptocurrencies paper

Published on 24 May 18 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This paper covers:

  • what are cryptocurrencies?
  • the basics of blockchain
  • risks to the Australian tax system and recommended strategies.

 

 

 

Author profiles

Peter Murray CTA-Life
Photo of author, Peter MURRAY Peter is the leader of the firm’s Tax Division. Peter was previously a Senior Tax Partner at KPMG, with 30 years’ service. Peter specialises in tax issues impacting listed and privately owned corporate groups and managing tax disputes. His specific areas of specialisation include corporate group reorganisations, mergers and acquisition, including domestic, inbound and outbound investment, thin captalisation and debt/equity, capital/revenue characterisation, tax consolidation, repatriation of profits, trusts, application of the general anti-avoidance rules (GAAR), and tax risk management and dispute resolution. More recently Peter has been advising on the tax implications of investing in cryptocurrencies and initial coin offerings. Peter has been listed in The Best Lawyers in Australia in tax law every year since 2013. He is also a recommended tax lawyer in Australia and a leading tax lawyer in Victoria in Doyle's Guide to the Legal Profession. He is a Life Member (CTA) of The Tax Institute, Fellow of the Institute of Chartered Accountants in Australia and New Zealand and Member of the Australian Institute of Company Directors. Peter is currently a member of the ATO General Anti Avoidance Rule (GAAR) Panel and a past President of The Tax Institute. (Kathy updated for Tax and Innovation Day) - Current at 24 August 2018
Click here to expand/collapse more articles by Peter MURRAY.
Joni Pirovich
Joni is a passionate advocate for web3 innovation and DAO-first thinking. Joni’s legal practice and policy submissions span across issues in tax, financial services, IP, labour, litigation and wills and estates to support all types of web3 involvement by individuals, start-ups, funds, DAOs, exchanges, NFT marketplaces, banks and ‘crypto-banks’. Joni is also part-time General Counsel for a bitcoin mining enterprise focussed on renewable energy and making energy grids more resilient. - Current at 11 July 2022
Click here to expand/collapse more articles by Joni PIROVICH.

 

This was presented at NSW 11th Annual Tax Forum .

Get a 20% discount when you buy all the items from this event.

Individual sessions

The taxation of cryptocurrencies

Author(s):  Peter MURRAY,  Joni PIROVICH

Materials from this session:


Have your client’s assets suddenly (and unexpectedly) been frozen/restrained under Proceeds of Crime Act orders?

Author(s):  Christopher CATT

Materials from this session:














The economy in 2018/19

Author(s):  Gareth Aird

Materials from this session:

The global world of superannuation

Author(s):  Chris Balalovski

Materials from this session:

Myth busting SMSF reforms implementation and ATO SMSF review activities

Author(s):  Mark WILKINSON,  Tara McLachlan

Materials from this session:

Update on trusts

Author(s):  Jay Prasad

Materials from this session:

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