October 2026 Newsletter

Please click on the following link to view this month's newsletter for October 2026. We would like to highlight the following articles:-​

​

Working Overseas: What Could It Mean for Your Australian Tax

​

An opportunity to live and work overseas can bring significant changes, including changes to your Australian tax position.

​

A key issue is whether you remain an Australian resident for tax purposes while you are overseas. Tax residency is different from citizenship or immigration status and depends on your individual circumstances.

​

For example, temporarily going overseas does not automatically make you a foreign resident for Australian tax purposes. Australian tax guidance recognises that a person who goes overseas temporarily and does not establish a permanent home in another country may continue to be treated as an Australian resident for tax purposes.

​

Your residency status can influence how your Australian and foreign income is treated, making it worthwhile considering your position before you leave Australia rather than waiting until tax time. 

​

Before leaving, consider:

​

• how long you expect to be overseas;

• whether you will retain a home or other ties in Australia;

• your accommodation and living arrangements overseas;

• Australian and overseas sources of income; and

• keeping records associated with your employment and move.

​

Crypto tax for individual investors: beware CGT on your digital assets

​​

Cryptocurrency has become a more common part of many investment portfolios, but it is important to remember that crypto transactions can also have tax consequences.

​

Buying cryptocurrency and simply continuing to hold it is different from disposing of a crypto asset. Transactions such as selling crypto, exchanging one crypto asset for another, or using crypto to acquire goods or services can potentially have tax implications. The appropriate tax treatment will depend on your circumstances, including the nature of your activities.

​

One of the practical challenges with cryptocurrency is record keeping, particularly when transactions occur across several wallets, platforms or exchanges.

​

Individuals dealing with crypto should retain appropriate records of their transactions, including:

​

• the date of each transaction;

• details of the crypto asset involved;

• the value of the transaction;

• what the transaction was for; and

• associated costs and relevant supporting records.

​

Trying to reconstruct a large number of transactions at the end of the financial year can be difficult, so keeping your records up to date as you go can save considerable time later.

​

Please do not hesitate to contact us if you have any queries in relation to your tax and accounting matters.

​​​

Important: Clients should not act solely on the basis of the material contained in Client Alert. Items herein are general comments only and do  not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought  before acting in any of the areas. Client Alert is issued as a helpful guide to clients and for their private information. Therefore it should be  regarded as confidential and not be made available to any person without our prior approval.