Part 2: Non-Fungible Tokens (NFTs) and their Tax Implications

This is part two of a three-part series* Read part one here.

What is a non-fungible token? It is a unique digital token representing the ownership of digital or real-work things (like artworks!). It cannot be copied or divided. It is...

A Guide to Grants, Prizes, and Awards for Creatives in Australia: Taxation, Unearned revenue, and GST Implications

Grants, prizes, and awards play an important role in supporting and recognising the talents and accomplishments of creatives. However, knowing the tax and GST (Goods and Services...

NFTs: A Deep Dive into the Revolutionary World of Digital Assets

The world is always changing, and we once again find the world asking - is this art? And accountants asking - what the hell do we do with this? Often the world moves faster than accounting law so we have to do our best to keep up...

It’s that good, we have to tax it. 

GST means goods and services tax. It's a 10% tax applied to most products and services in Australia. This is a tax that is designed to tax the end consumer. It’s almost like when you register for GST you work for the ATO, because you start...