Julian Humphrey

Julian Humphrey, CTA

KPMG

Julian Humphrey, CTA, is a Partner of KPMG’s Banking and Finance practice with over 25 years experience. He works primarily with international banks and financial services companies operating in Australia, providing corporate income tax and more recently transfer pricing services.

Julian’s areas of expertise include the taxation of banks and bank branches, the taxation of financial arrangements and retail financial products as well as Australia’s offshore banking regime. He has advised on a number of major M&A transactions in the financial services sector in recent years. He is a regular participant in consultation with the government on Australia’s tax reform proposals affecting Australian financial institutions.

Session details

Session 17.5: Digital Assets

Levels of digital asset innovation, ownership, understanding and use have never been greater, but more than a decade since bitcoin was first invented, the digital asset roller coaster continues, leaving investors, traders, innovators, businesses and enthusiasts wondering: is this the digital revolution or a Dutch tulip?

From a tax perspective, the significant rise and fall of digital asset prices has only brought to sharper focus a number of key tax considerations associated with owning and trading digital assets.

In this session, Julian Humphrey and Luke Imbriano will explore these key tax considerations, including:

An overview of the income tax outcomes arising out of digital asset ownership and trading, including cryptocurrency, Decentralised Finance (“DeFi”) assets, staking rewards and airdrops, and nonfungible tokens (“NFTs”);
Common pitfalls to be aware of in a falling market, including loss or theft of digital assets, unfunded tax liabilities, verification of data and substantiating tax losses;
The ATO’s evolving views on cryptocurrency and the issues that may arise; and
The roadmap for the development of a digital asset tax framework in Australia.

Speakers: Julian Humphrey, CTA, KPMG, Luke Imbriano, FTI, KPMG Law