If you don't hold any of this coin, not only are you fucking retarded, but your children will also be fucking retarded.
That is all.
IT BEGINS
Brayden Taylor
Sebastian Green
no ones going to hold it right now you brainlet as its going to dump hard once ETF gets denied tomorrow
Jaxson Wright
hey mr. mystery! do you wanna know what is retarded? those posts where nobody knows what you mean.
Benjamin Bennett
Unfortunately, I live in Australia, a civilized country with universal healthcare.
The only downside being that any transaction I make becomes a tax event.
I'll hold my coins comfortably and laugh my way to the kangaroo bank next year
Matthew Phillips
im aussie too you cuck
if you actually report tax events on each transaction, i dont even know what to say lmao
thats just sad mate
ill only pay tax on what i cash out, a few mates have done it and it works
Lincoln Phillips
if anything it will go up in sats as it begins to decouple
Zachary Thomas
I'm sure it works when you cash out two 1 dollar coins and a 10 cent piece on top.
I cashed out close to 900K last year and they went through it extensively, I had to provide almost every single transaction in detail and 7 months later, they still call for minute details.
I just claim everything legit and I sleep with 0 worries
Landon Morris
I'm Aussie too and comfy as fuck holding my 3mill VET until I can get 50% capital gains tax reduction for hodling
Easton Hall
This. I hate to break it to you OP but if you ever cash out a large sum of money you are fucked beyond belief
William Robinson
?
Hudson Watson
Lol..
>The only downside being that any transaction I make becomes a tax event.
Bitcoin is considered currency, but other coins are not ... it is barter when you exchange them.
From Brisbane!
Jose Nelson
You might want to go through your taxes again before you get audited.
"Trade or exchange cryptocurrency (including the disposal of one for another)" - Tax Event
Grayson Brooks
>guys please buy a chinese scam
Andrew Evans
Interesting... Last year my accountant told me otherwise... Well I am fucked!
So how do they determine the tax? How are you meant to get the AUD value of some coins?
Thanks for sharing the link!
Ryan Taylor
From the looks of it the only clueless retard is you, no wonder you're poor
Noah Peterson
Yeah no problem! I think it's something they've been updating in like an ongoing review.
An easy way to calculate is kind of like 2 events, you exit the original coin and enter the new one.
E.g. If I enter Bitcoin at 1000, leave at 10,000 and go into VeChain, the capital proceeds are the 9000 difference in the Bitcoin appreciation.
Ayden Jones
So basically, every single trade you make in Crypto will have an entry and exit in terms of AUD and it's your responsibility to make sure you track those.
Like I said earlier, it doesn't matter that much on smaller amounts because the ATO doesn't give a shit, but if you're keen on cashing out a significant amount one day as we all are, keep track of your trades.
Otherwise you'll end up paying the maximum possible tax for that scenario if you can't prove otherwise
Oliver Wood
I just read the link you gave us... Moving forward I will have to keep records.
For this taxable events do you have to declare then every year? Or is it when you are fully out?
Lastly, so if I have 10k worth if btc... I move 5k to NEO, then that neo is worth 5k for my reporting purposes... Is that correct?
Thanks for the info, glad you corrected me!
Sebastian Ramirez
You only have to declare them when an event occurs, if anything you want to hold for at least 1 year to be eligible for the 50% CGT discount
Adam Johnson
>wash trading on LBank for months
>price tanks as people complain bout adoption and broken promises
>ramps up fake transactions
>tons of dumbasses buy in again
Funny how the nodes have yet to be announced, and no company has said it's using the vechain system
Hmmm
Sebastian Ross
((((((((((Hmmm))))))))))
Robert Davis
Cope all you want
Adrian Barnes
no it wont lmao
VET drops fucking hard as well due to emotional traders
Josiah Roberts
Sorry not you I meant the user with green ID. He is fucked.
Connor Baker
At the COPE-a, COPE-a-cabana
Juan Taylor
Getting Anthshare vibes