Streamlined Accountants

28/05/2026

Year-End Crypto Tax Prep: 5 Steps to Get Ready

Tax time is coming and, if you've been trading crypto, you need to act now. Here's your 5-step checklist:

Step 1: Gather All Your Trades
- Export transaction history from every exchange you've used
- Include buys, sells, trades, staking rewards, airdrops, everything
- Get the date, amount, and price in AUD for each transaction

Step 2: Calculate Your Gains and Losses
- For each trade, calculate the capital gain or loss
- Staking rewards and airdrops are taxed as income, not capital gains
- Keep a detailed spreadsheet (or use crypto tax software)

Step 3: Identify Your Deductions
- Trading fees and exchange fees are deductible
- Research and education costs may be deductible
- Losses can offset gains (and sometimes other income)

Step 4: Organise Your Records
- Keep all exchange statements and transaction confirmations
- Document the purpose of trades and investments
- Be ready to explain your strategy to the ATO if asked

Step 5: Book a Review
- Get professional advice before you file
- A tax accountant can spot deductions you missed
- They can also structure your future crypto activity more efficiently

The Reality:
The ATO has data-sharing agreements with major exchanges. They know what you've traded. Getting ahead of this now saves stress and penalties later.

Ready to tackle your crypto tax? Book a free review - link in bio. 🔐

24/05/2026

SMSF Audit Season: What You Need to Know

SMSF audit season is here, and if you're running a fund, you need to be prepared.

Here's what auditors are looking for:

1. Contribution Compliance
- Were contributions made by 30 June?
- Did contributions exceed the annual limits?
- Are there proper records of who contributed what?

2. Investment Reporting
- Are all investments properly recorded?
- Are dividends and capital gains reported correctly?
- Is the fund's asset allocation within rules?

3. Related Party Transactions
- Did the fund lend money to members or related parties?
- Were there any related party investments?
- Are all transactions at arm's length?

4. Record-Keeping
- Are there proper minutes of trustee meetings?
- Is there documentation for all transactions?
- Are bank statements reconciled?

5. Fund Governance
- Is the fund's trust deed current?
- Are there proper insurance policies?
- Is the fund compliant with superannuation laws?

The Good News:
If you've been keeping proper records and following the rules, audits are straightforward. It's the funds with sloppy records that face problems.

The Bad News:
Auditors are getting stricter. The ATO is cracking down on non-compliance.

Need help preparing for your SMSF audit? We've got you covered - reach out for a free chat. Link in bio. ✅

05/05/2026

Do you get to tax time and dread when we ask you for your receipts or proof of your deductible expenses?

Or maybe you have trouble just trying to remember what expenses you've had that might be tax deductible.

The good news is that the ATO has a free app available where you can record your expenses, work related car travel and work from home hours. You can even upload pictures of your receipts. Then when it comes to supplying us with your expenses for the year at tax time, there's a button to simply email us the details straight from the app.

Download the ATO app from the Google Play store or Apple App store. We've recorded some handy instructions on how to get started and enter your tax info if you get stuck 👇

ATO deductions app

15/04/2026

With rising fuel prices now is as good a time as ever to keep a vehicle logbook for your work related travel to maximise your tax deductions.

With rising fuel prices it's time to consider keeping a vehicle logbook to maximise your motor vehicle tax deductions.If you would like to talk to us about y...

31/03/2026

Understanding which business structure is best for you and your business is critical in creating tax effective strategies for your business. There is no one size fits all and something that is right for one business may not be right for yours