Here in Australia crypto is taxed similarly to how the IRS does it in the US - cap gains apply to crypto to crypto trades.
Do any of you have any advice on how to avoid taxes? I've heard some people use monero? I haven't traded a lot but figured I should prepare my portfolio / transaction records so to minimise tax obligations when I moon.
just give up Williams and enjoy your cucked life
I have 2 bots constantly trading on 2-5 satoshi margins thousands of times a day
Suck my dick cia niggers. You want to tax my runescape gold too?
I have doged tax in australia with crypto. What is your telegram name? Ill tell you how to there.
Just become a tax resident overseas in Singapore or Cyprus.
I've heard of other ways like using crypto to fiat cards but this is traceable
me too. @trenbolone1488 pm me
yea Singapore has 0% capital gains taxes. i bet theyre comfy af
user what have you done?
If you can, hold for 1 year without trading. 50% discount on CGT.
You can do localethereum for cash but there's hardly anyone in Australia.
just telegram its ok
They actually just installed a bitcoin atm not far from where I live in Australia. I think you could use one to withdraw cash if you want. Maybe even take it overseas?
thanks mate, its @coinlu
Muh ATO, please prove that said wallet is mine.
/thread
Honeypot thread
I'd love it if this could work lol. All thats tying me to my crypto is that I buy my eth with AUD off btcmarkets. net which has my ID etc. Chances are they'll give up user info to the ATO but yea, nothing for them to prove my binance account is mine i guess. Or that my actual wallet is mine either.
Just hold ur coins for a year before you sell and incur 50% less CGT It is also taxed on income tax rate so if you earned lets say 500k with crypto its better to not even work that finincial year and sell the coins in one lump so you get more of your money cause there is no way in fucking hell you will get away with a large amount of money in your bank account without the bank notifying the ato unless of course to use crypto for small shit direct trades on whatever you want.
I bought btc and 'sent it to my poorfag uncle in thailand'. What u gon do about it?
Why the fuck would you dump $200k away when you're the one taking all the risk making it. Just gtfo of the country - it's fucked anyway.
riddle me this, faggots:
if I'm John Bitcoin and I buy a Bitcoin, then I use that bitcoin to buy shitcoins, then I send all those shitcoins to various wallets/exchanges (most of which don't utilize KYC or verify identities any way), and then I trade them, and continue doing this for years, will I be able to smell my dick in my shit?
If you are a full time trader on crypto, you only pay income tax. Not CGT.
Look it up yourself moron
You send your gains back to the normie exchange and say you mined it all
SP passport - 2 M cyprus is a russian shithole
whats the tax treatment of mined coins?