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The emergence of digital assets and their related taxation complications paper

Member Price: $57.00
Non Member Price: $75.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 10 Mar 22 by NATIONAL DIVISION, THE TAX INSTITUTE

This paper covers:

  • a very brief summary of the types of digital assets and related financial products
  • review some of the key regulatory and accounting considerations that these new products face today, and
  • look closely at the tax challenges these new products create within the existing tax frameworks, including TOFA, CFC attribution, Public Trading Trusts, GST (digital services tax and counterparties) as well as reporting and Exchange of Information considerations. 

Author profiles

Julian Humphrey CTA
Julian Humphrey, CTA, is a Partner of KPMG’s Banking and Finance practice with over 25 years experience. He works primarily with international banks and financial services companies operating in Australia, providing corporate income tax advisory and compliance services. Julian’s areas of expertise include the taxation of banks and bank branches, the taxation of financial arrangements and retail financial products as more recently the taxation of crypto currency and digital assets. He is a regular participant in consultation with the government on Australia’s tax reform proposals affecting the financial services sector - Current at 13 January 2023
Click here to expand/collapse more articles by Julian HUMPHREY.
Samantha Shields

 

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