Wash sales & crypto

Why is the ATO concerned?
The ATO Assistant Commissioner Tim Loh has recently advised that taxpayers taking advantage of market conditions and the fall in value of the cryptocurrency markets may ‘trip’ over and lose their losses where the transaction is subject to a ‘wash sale’ arrangement.
What is a ‘wash sale’ arrangement’?
How does it apply to taxpayers trading in cryptocurrency? How does it apply to taxpayers trading in cryptocurrency in an ad-hoc manner? Is there still a capital and revenue divide for the conduct of such transactions?
With the growth in the number of taxpayers entering the cryptocurrency market and the relative ease under which such transactions are made, tax professionals are likely to face these key questions when preparing income tax returns for clients in relation to the 2022 financial year.
Join Adam Dimac from Hall & Wiicox and Phillip London Head of Tax at Tax and Super Australia for this key discussion.


More information:

Wednesday 10 August 2022    Adam Dimac Slides
12:30-1:30pm AEST Live webinar Recording
1 CPD point $99 (members) | $132 (standard)    Notes

Adam is an experienced tax lawyer and advises clients on a range of matters including tax planning and structuring, Division 7A, the small business CGT concessions, corporate restructuring, professional firm structures, trust taxation and cryptocurrency taxation. Adam regularly acts for taxpayers in dispute and controversy matters and provides assistance with ATO reviews and audits. His clients include private groups, professional firms, small-to-medium enterprises, high-net-worth individuals and family groups.

10/08/2022 12:30 PM - 10/08/2022 1:30 PM
Online, Australia

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