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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
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
Joni Pirovich
Joni Pirovich is the Principal of Blockchain & Digital Assets - Services + Law (BADAS*L pronounced bedazzle). She is an advocate for responsible web3 innovation, founding LawFi DAO in July 2022 to further her contribution to web3 education and responsible policy development. BADAS*L was opened in early 2021 to operate as a distributed law practice where Joni provides legal and non-legal services to a range of clients including law firms in various web3 matters spanning tax, securities and financial services, IP, labour, litigation and AML/CTF compliance. The learnings from Joni’s distributed law practice filter through in the thousands of hours spent on policy contributions since 2018, available at https://badasl.com/policy. Joni was a contributor to the 2023 World Economic Forum DAO Policy Toolkit and sits on the DAO Panel for the UK Law Commission. - Current at 04 July 2023
This was presented at NSW 11th Annual Tax Forum .
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The taxation of cryptocurrencies
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Practical issues with Division 7A
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Have your client’s assets suddenly (and unexpectedly) been frozen/restrained under Proceeds of Crime Act orders?
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Practical issues with trusts: Session A
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Tax residency issues
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Burden of proof in tax disputes and why it matters
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SMSF contribution and pension strategies post-super reform world
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Preparing a business for sale
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Directors’ duties and tax obligations
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Small business CGT concessions – Eligibility issues
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GST & cross border supplies – Levelling the playing field?
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Investing in an evolving environment
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Practical issues with trusts – Part B
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Share sales v asset sales
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Capital gains withholding – Navigating the transactional maze
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Dissecting share sale and purchase agreements
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The economy in 2018/19
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The global world of superannuation
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Myth busting SMSF reforms implementation and ATO SMSF review activities
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Update on trusts
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