Optimise your crypto

Blockchain & Cryptocurrency Advisory is starting to revolutionise how business exchange assets to increase speed of transactions and increase security. Our team is equipped with the knowledge to help you better understand what it could mean for every user of blockchain technology.

More than a digital currency.

We understand the tax and accounting complexities that arise when utilising blockchain & cryptocurrency technology, allowing us to deliver crypto-specific tax advice and services.

Our team of advisors have a foundation in tax and passion for crypto, uniquely positioning them to provide accounting and tax advice to investors, DeFi participants and crypto-related businesses based on the personal experience they have developed through actively participating in the crypto community themselves.

We provide peace of mind when it comes to meeting your tax compliance obligations and work with you to deliver tax-effective strategies for your crypto activities, allowing you to focus on creating wealth and contributing to a decentralised future.

Who we help

Solutions for all your crypto needs, no matter who you are

Investors

As a passive investor we can assist you in understanding and calculating your capital gains tax obligations and work with you to take advantage of tax minimisation strategies, allowing you to plan appropriately for the future so you can to continue to grow your wealth.

Traders

If you are regularly trading in spot/futures markets or flipping tokens on decentralised exchanges, you may be deemed a trader for tax purposes and will be subject to slightly different tax rules. We assess our client’s activities to ensure their income is classified and calculated correctly.

Businesses

Businesses operating in the cryptosphere or accepting cryptocurrency as payments are often misunderstood by traditional accountants. We offer a full suite of bookkeeping, accounting and management reporting services work, ensuring businesses are meeting their reporting and compliance obligations.

Decentralised Finance (DeFi)

We assist DeFi participants who are borrowing and lending on decentralised money markets navigate the complex tax implications that can arise when transacting on these protocols.

We assist liquidity providers in determining what transactions constitute taxable events and how to calculate their assessable income.

DeFi protocols have given rise to unprecedented opportunity to generate yields that far exceed what is possible in traditional finance. Complex yield farming strategies are not only stressful to manage but can be a nightmare when it comes to record keeping. We assist yield farmers in maintaining appropriate records and determining their tax obligations.

The tax implications of staking your assets to a network or protocol can be complex and confusing. We assess our client’s staking activities to help them understand their tax obligations.

Airdrops are commonly used by new protocols to incentivise users to use their product and the tax treatment of these air drops are commonly misunderstood. We assist our clients in understanding the tax obligations that arise as a result of receiving air drops.

DAOs are a novel way to organise both financial and human capital with some of the largest existing DAOs controlling treasuries worth billions of dollars. We can assist existing businesses looking to move to a DAO structure in unwinding their existing corporate structures to enable a smooth transition. We also provide standard accounting and financial reporting services to DAOs to assist them in maintaining financial records of their operations.

The Metaverse

Decentralised games and virtual worlds have given rise to innovative play-to-earn models and unique methods for gamers to earn an income. We work with gamers to assess whether their activities are taxable and how to calculate their taxable income.

NFTs and digital collectibles are assets that are commonly overlooked by investors but may still be taxable depending on the circumstances in which they were acquired. We assist our clients in determining the tax implications of these unique investments.

There has been an explosion in virtual real estate transactions in recent times as the Metaverse gathers momentum and innovative companies establish virtual headquarters. We assist our clients in understanding the tax implications of buying, selling and renting virtual property.

Network Validators

Whether you’re mining your favourite token or have established a complex multi-rig mining operation, we assist our clients in assessing their taxable revenue, allowable deductions, eligibility to access certain tax concessions and how to appropriately assess depreciation on the hardware used in their operations.

Innovations in proof-of-stake have significantly reduced the capital intensity of validating blockchains, allowing more users to participate in securing these networks. Decentralised oracle networks also serve as key infrastructure in securing data transmission and allow smart contracts to execute effectively. We assist node operators in assessing their taxable revenue, allowable deductions, eligibility to access certain tax concessions and how to appropriately assess depreciation on the hardware used in their operations.

Our Blockchain advisory services

Take a stroll down memory lane the blockchain

Our most common services are listed below, but let us buy you a coffee to discuss your specific requirements.

Tax Reports

Whether you’re passively investing, regularly trading, yield farming or doing anything in between, we will review both your trading history and other on-chain activities in order to deliver a comprehensive tax report to be used to lodge your annual tax return. Our tax report will collate and summarise data across all crypto related products and services, including:

  • Centralised & decentralised exchanges
  • DeFi protocols
  • Staking
  • NFT marketplaces
  • The Metaverse

Tax return and Activity Statements

We assist our clients in preparing and lodging their annual tax returns and ongoing activity statement obligations, ensuring they are reporting the correct information to the Australian Tax Office. Further yet, we will liaise directly with the ATO on your behalf should they request clarification or verification of your reported earnings.

Specialist tax advice

Our team has an in-depth understanding of the crypto ecosystem and the tax implications of investing in digital assets and transacting on decentralised protocols. We assess our clients’ activities to provide advice tailored to their personal circumstances, ensuring they understand their tax, compliance and other reporting obligations.

Tax planning

We work with clients in reviewing their activities throughout the financial year, giving them the opportunity to determine their expected taxable earnings, allowing them to plan appropriately and implement strategies to reduce their tax liability and ultimately preserve their capital.

Business operations

We partner with our clients to ensure they harness technology to create and deliver operational efficiencies, think bookkeeping, payroll, and activity statements. This then facilitates analysing business performance through the interpretation of your financial data into meaningful management reports, providing you with valuable insights to guide your strategic decision-making.

Tax structuring & asset protection

Appropriate structuring of your business and/or the vehicles that hold your assets can bring tax efficiencies to ultimately reduce your tax liabilities and enables you to better protect the assets you own and wealth you have created.

Meet our Blockchain Advisory team

Frequently asked questions

Strategic planning in business refers to the process of setting goals and creating a roadmap for achieving long-term success1. It involves analysing and understanding the current state of the business, evaluating market trends and competitive dynamics, and making informed decisions about the allocation of resources and the direction of the company.

A strategic plan provides a framework for decision-making, guiding daily, weekly, monthly, and annual actions1. It serves as a reference point or “true north” for the business, ensuring that all activities and initiatives are aligned with the overall vision and mission.

The process of strategic planning typically includes the following steps:

Analysis and assessment: This involves evaluating the internal strengths and weaknesses of the business as well as external opportunities and threats. Various tools like SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) may be used to gain insights into the current state of the business and the external environment.

Goal setting: Based on the analysis, strategic goals and objectives are defined. These goals are specific, measurable, achievable, relevant, and time-bound (SMART goals), and they provide a clear direction for the business.

Strategy development: Strategies are developed to achieve the defined goals. These strategies may involve market expansion, product development, operational improvements, cost optimisation, or any other initiatives that align with the business’s goals and competitive landscape.

Implementation and execution: Once the strategies are developed, they are implemented through action plans, resource allocation, and project management. Regular monitoring and review ensure that the plan is executed effectively and any necessary adjustments are made.

Evaluation and measurement: Ongoing evaluation and measurement of key performance indicators (KPIs) are essential to assess progress towards the goals and make informed decisions. This allows businesses to stay agile and adapt their strategies as needed.

Strategic planning in business helps organisations define their vision, create a roadmap for success, and ensure that all activities are focused on achieving the desired outcomes.

Business strategic planning in Australia refers to the process of formulating and implementing a long-term plan to achieve the goals and objectives of a business1. It involves analysing the internal and external factors that can impact the business, identifying opportunities and challenges, and developing strategies to capitalise on opportunities and overcome challenges.

The key components of business strategic planning in Australia include:

Vision and Mission: An effective strategic plan starts with a clear vision and mission statement that outlines the purpose and direction of the business. The vision statement defines the desired future state of the business, while the mission statement describes what the business does and who it serves.

Situation Analysis: This involves conducting a thorough analysis of the internal and external environment of the business. It includes assessing the strengths, weaknesses, opportunities, and threats (SWOT analysis) to understand the current position of the business and identify areas for improvement and growth.

Goal Setting: Based on the situation analysis, strategic goals and objectives are defined. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART goals). They provide a clear focus for the business and serve as a benchmark for measuring progress.

Strategy Formulation: The strategy formulation phase involves developing actionable strategies that align with the goals and objectives of the business. This may include market expansion, product development, entering new markets, strategic partnerships, or operational improvements.

Implementation: Once the strategies are defined, they need to be implemented effectively. This involves allocating resources, assigning responsibilities, and developing an action plan. Regular monitoring and review are essential to track progress and make necessary adjustments.

Evaluation and Review: Regular evaluation and review of the strategic plan are vital to ensure its effectiveness. Key performance indicators (KPIs) are established to measure progress against the goals and objectives. Feedback and insights from stakeholders are also important to make any necessary revisions or refinements to the strategic plan.

Business strategic planning in Australia helps businesses align their activities and resources to achieve their long-term goals in a dynamic and competitive environment1. It provides a roadmap for decision-making, helps the business anticipate and respond to changes in the market, and improves overall organisational efficiency and effectiveness.

Strategic planning is a key driver of business plan development in Australia and has a significant impact on the process and outcomes. Strategic planning provides a framework for assessing business viability, identifying opportunities, and setting a clear direction for growth and success. By aligning the business plan with the strategic plan, business owners can ensure that they are focusing on the right priorities, allocating resources effectively, and sustaining long-term growth.

The impact of strategic planning on business plan development in Australia includes:

Vision and Direction: Strategic planning establishes a clear vision and direction for the business, which provides a foundation for developing the business plan. The business plan should align with the strategic plan to ensure that it supports the vision and direction of the business.

Market Analysis: Strategic planning involves analysing the market to identify opportunities and threats. This analysis should inform the development of the business plan to ensure that it is applicable to the current market conditions.

Resource Allocation: Strategic planning helps identify the resources needed to achieve the goals and objectives of the business. By aligning the business plan with the strategic plan, business owners can ensure that they are allocating resources effectively for the long-term growth of the business.

Risk Management: Strategic planning helps identify potential risks and uncertainties, and determine strategies to manage them. By incorporating risk management strategies into the business plan, business owners can mitigate potential risks and minimise their impact on the business.

Performance Measurement: Strategic planning establishes a set of goals and objectives that serve as a benchmark for measuring business performance. This provides a foundation for evaluating the effectiveness of the business plan and making necessary adjustments to achieve the desired outcome.

In conclusion, strategic planning has a significant impact on business plan development in Australia. By aligning the business plan with the strategic plan, business owners can ensure that they are focusing on the right priorities, allocating resources effectively, and sustaining long-term growth of the business.

A business continuity professional in Australia is responsible for helping organisations develop and implement plans to ensure the continuity of important business functions in the event of disruptions. Their role is to assess potential risks such as natural disasters, cyber-attacks, pandemics, and other unexpected events and develop strategies to mitigate those risks and ensure business continuity.

Some of the key responsibilities of a business continuity professional in Australia may include:

Business Continuity Planning: They develop and implement comprehensive business continuity plans that outline procedures and protocols to be followed in the event of disruptions. This includes conducting risk assessments, identifying critical business functions, and developing strategies to maintain operations and minimise downtime.

Risk Assessment: They assess potential risks and vulnerabilities to the organisation and evaluate the impact these risks can have on business operations. This helps in developing proactive strategies to prevent or mitigate disruptions.

Crisis Management: In the event of a disruption, business continuity professionals play a key role in coordinating the response and managing the crisis. They ensure that crisis management procedures are followed, communication channels are established, and necessary actions are taken to minimise the impact and facilitate a smooth recovery.

Training and Education: They provide training and awareness programs to employees to ensure they are familiar with the business continuity plans and understand their roles and responsibilities in the event of a disruption. This helps in building a culture of preparedness and resilience within the organisation.

Testing and Maintenance: They oversee the testing and maintenance of business continuity plans to ensure their effectiveness and relevance. This includes conducting regular drills and exercises, reviewing and updating plans as needed, and incorporating lessons learned from past incidents.

Overall, a business continuity professional plays a crucial role in helping organisations prepare for and respond to disruptions, ensuring the continuity of critical business functions and minimising the impact on operations.

In Australia, the five stages of strategic planning are as follows:

Analysis of Internal Environment: In this stage, an organisation analyses its internal environment, which includes assessing its strengths, weaknesses, resources, and capabilities. This helps the organisation identify areas where it has a competitive advantage and areas where it needs improvement.

Analysis of External Environment: An organisation also analyses its external environment, which includes assessing market conditions, competition, regulatory environment, and other external factors that can impact the business. This helps the organisation identify market opportunities and potential threats.

Setting Strategic Objectives: Based on the analysis of the internal and external environment, an organisation sets its strategic objectives. This involves defining the goals and targets that the organisation wants to achieve in the short and long term.

Developing Strategies: Once the strategic objectives are defined, an organisation develops strategies to achieve them. This involves identifying a range of options and selecting the most appropriate strategies to achieve the objectives.

Implementation and Review: The final stage involves implementing the strategies and monitoring their effectiveness. This involves setting up systems to measure progress against objectives, regularly reviewing the performance, and making adjustments as needed.

Overall, these five stages allow organisations to develop a comprehensive strategic plan that aligns with their objectives and helps them achieve success.

Have we piqued your interest in blockchain?

Let us buy you a coffee to discuss your requirements.