ATO
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Crypto capital gains one of four key areas for Australian Tax Office
The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022. A capital gain or loss refers to the price difference between the time an asset was purchased and the time it was sold. The percentage owed to the ATO varies between income brackets and duration of ownership, but in general, the rate is reduced for assets held longer than 12 months. The ATO, which has fired off many warnings to crypto investors over the past few years, has also directly mentioned nonfungible tokens (NFTs) as an asset class that will be scrutinized for correct tax reporting. According to a Monday announcement, alongside capital gains from crypto, property and shares, the ATO will also look at record-keeping, work-related expenses and rental property income/...
Man jailed five years for trafficking 18-year-old girl to Libya for prostitution
Twitter A 66-year-old man was on Thursday sentenced to five years imprisonment by a Federal High Court, Makurdi, Benue State, for trafficking an 18-year-old lady to Mali for forced labour and prostitution. The man, Lawrence Ogonna, was said to have connived with some other people who are currently at large to trafficked the said teenager from Makurdi to the North African country. Justice Hassan Dikko of the Federal High Court found the man guilty of a three-count charge of organising foreign travels for prostitution and assisting to traffic the victims contrary to sections 18 and 13(4)(c) of Trafficking in Perons (Prohibition) Enforcement and Administration Act of 2015. He was dragged to the court by the National Agency for the Prohibition of Trafficking in Persons. He, however, got an opt...
