Crypto Accounting Simplified: Expert Insights for Accountants

Mastering crypto accounting and transforming challenges into opportunities

This session will equip participants with comprehensive knowledge and expertise in the dynamic field of crypto accounting. Led by a Rafael Franco, a Chartered Accountant and Director of Tax On Chain, this session is designed to provide a deep understanding of cryptocurrency activities, tax implications, and key concerns for the Australian Taxation Office (ATO).

In a financial landscape where cryptocurrencies are revolutionising traditional systems, accountants and financial professionals face new challenges and opportunities. This session sets the stage for a transformative learning experience that will empower you.

• Gain In-Depth Knowledge: Understand the true nature of various crypto activities, including investment through both centralised and decentralised exchanges, staking, airdrops, participation in DAOs, and NFT-related activities.
• Master Tax Implications: Explore the tax implications of NFT investments and other NFT-related endeavours. Learn to apply your knowledge to determine the correct tax treatment for staking and airdrop scenarios.
• Hands-On Practical Examples: Witness live demonstrations of using essential software and tools required to effectively manage crypto clients’ tax affairs, providing you with practical skills to apply in your professional practice.
• Navigate Business Transactions: Grasp when cryptocurrency dealings qualify as a business and how trading stock provisions apply. Gain insights into the GST implications of cryptocurrency in business transactions and the taxation aspects of accepting cryptocurrency as payment.

Learning Outcomes:

Upon completion of this session, participants can expect to:

• Effectively explain the nature of various crypto activities, rooted in their understanding of the underlying protocols.
• Analyse and comprehend the tax implications of cryptocurrency investments and activities, particularly those related to NFTs.
• Apply their knowledge to determine the correct tax treatment for staking and airdrop scenarios.
• Articulate the classification of cryptocurrency dealings as business-related and navigate the intricacies of trading stock provisions.
• Discuss the GST implications of cryptocurrency transactions within a business context.
• Understand the complexities of investing in cryptocurrency through a Self-Managed Superannuation Fund.
• Acquire practical skills through live demonstrations of essential software and tools for managing crypto clients’ tax affairs.
• Demonstrate a profound understanding of the taxation implications associated with accepting cryptocurrency as payment for goods and services.
• Gain insights into the key areas of interest for the ATO in the cryptocurrency investment space.

Suited to:

Tax and accounting professionals

This On Demand includes: 

• a recording of the webinar Event which can be viewed multiple times
• a PDF of the presenter’s PowerPoint
• a verbatim Transcript
• any supporting documentation
• a CPD Certificate after successful completion of the Knowledge Quiz