Fuck the ATO

(Australian laws please.)
I don't want my money in the hands of the greedy jews up in parliment so they can splurge it on luxury fucking yachts. I propose a plan to minimize taxes by as much as possible:
>A YouTube channel in which I post time lapses of me and my (future) GF shopping and driving. And also do real time videos of us cooking.
The YouTube account grants me the ability to write off things directly related to the job. And since all food that we buy/all travel we do is directly related to the business (because thats what the business is about) should I not be able to write off all food/car/shopping expenses as business expenses?

Also dubs and your a jewish shill trying to get me to fork over "my fair share."
(pic related, it's the ato trying to steal my money.)

Other urls found in this thread:

youtube.com/watch?v=DHNHasrOqdE
youtube.com/watch?v=5AC4XTmXses
youtube.com/watch?v=8GAEGFqT2xY
youtube.com/watch?v=TMIpZIfiGGI
youtube.com/watch?v=Y4hnc2TiK9k
en.wikipedia.org/wiki/Captive_insurance
oecd.org/tax/transparency/AEOI-commitments.pdf
oecd.org/ctp/exchange-of-tax-information/thailand-joins-the-global-forum-on-transparency-and-exchange-of-information-for-tax-purposes.htm
ptshamrock.com/
twitter.com/NSFWRedditVideo

Sounds like a good idea mate, may as well try it. I made a thread the other day about the fucking ATO and their shitty fucking capital gains tax and how to get around it.

Wondering if I just keep my gains in a wallet or on the fucking exchange itself in AUD and only withdraw tiny amounts, would they even know about that? I don't want the HODL all the time, I want to buy the dips and sell the highs and I'm gonna get taxed to death doing that losing a large percentage of my gains.

As soon as you cash back to AUD its a taxable event and if you used btcmarkets or coinjar their KYC requirements likely will put you in the ATO crosshairs if it's a half decent amount
Consider using USDT to buy dips instead works the same way but not a taxable event

>Consider using USDT to buy dips instead works the same way but not a taxable event

I've had conflicting reports on this, being that if you trade from say XVG to BTC and 'make' 40k, that's a taxable event...

Which I think is fucking bullshit....

Y-y-you're ideas are unaustralian, mayyte

What's USDT? Just US Dollars? How do I get that and wouldn't I have to pay tax converting that back to AUD anyways?

What exchange do you best recommend for an Aussie who wants to avoid taxes?

usdt is a scam and fraud.

USDT is Tether.
It's a shitcoin that pegs itself to the USD 1:1.
Traders falsely believe it to be a safe haven from dips.

HYPER JEW DETECTED

QUADS

FUUCCK

Ive heard the same reports but basically theres no way for them to know or come after you for crypto to crypto trades, the same is not true for withdrawing to AUD however- due to compliance they know exactly how much you put in and will take note of how much you eventually cash out, I didn't declare any of my trades as I havent cashed back to fiat yet and I heard nothing from the ATO

USDT is a crypto token tied to the exact value of a US dollar, allowing you to cash out at peaks to essentially a fiat pegged currency without incurring the wrath of any capital gains tax, you can enter and exit the market in $ with no fear of the ATO
I use btcmarkets to buy BTC/ETH and mainly use bittrex(based in US) as my main exchange, didn't declare anything this year because I haven't gone back to AUD and no problems at all

This guy is right don't trust USDT just use it short term and sparingly to buy dips their auditing system is most likely fraudulent and it could quite possibly collapse at any time
It somehow went down to 90c earlier this year which was meant to be impossible

You wanna start up a thread exclusivley around minimizing (not avoiding, "avoiding" is illegal.) tax in australia? CGT, tax deductions etc. etc.

>store coins offline
>fly to non cucked country(hong kong, singapore, ilse of man, caymans etc)
>cash out
>move money into one of their banks

solved boyo

I've cashed out about 17k, over two financial years, all were used for personal expenses etc, so CGT exempt IAW the rulings...

As for how much I put in, lol I used cardless cash and 500 dollar deposits lol!

Do you have to tell them how much crypto you own when you do the return?

I started a trust for when I cash out some real gains, give money to my wife whose tax rate is far lower than mine.

So what's the purpose, for when you want to cash out but can't for tax purposes?

So it's dangerous to cash out into?

I heard that crypto to crypto is a taxable event too, but if you don't do it on btcmarkets then how will the ATO know I guess?

So all I gotta do when I want to cash out is trade my ETH/BTC/Shitcoin for USDT and then cash that out for US Dollars and the ATO wont know about this? Where do I cash them out for US dollars, on Bittrex? Where do I keep my US dollars in the meantime? Do I get taxed when I convert my US Dollars to AUD?

If so, can I just go overseas to Thailand with my USD and convert it there to avoid any ATO taxes, then convert the Thai Baht cash back to AUD cash at the airport when I get home?

>create offshore charitable trust of which you are sole beneficiary
>create offshore llc which is the sole trustee of the charitable trust
>you, the person, control the llc
>donate any crypto, cash, assets to the charitable trust
>it's all now tax free to be used for further tax free investment

Is this legal, how do I go about setting this up? Why don't more people do this with their assets?

I didn't no

USDT isnt cashable its only to be used as a like replacement for dollars to increase your crypto stack
E.g- You know bitcoin is gonna take a tumble from 5k to 3k, you cash your btc for 5000 tether, you rebuy btc at 3k, youve just made 2k you wouldn't have been able to otherwise make without cashing to Australian dollars and undergoing a CUT event, this is what tether is used for
Unfortunately eventually we will have to pay some sort of taxes not sure if the Thailand thing would work might be worth looking into. Personally hoping crypto just gets to the point where someone invents a card that actually works then I could just load it up with monero and pay for things like that without the tax man ever knowing

Ah I understand. But I would need to hold in Tether for certain amounts of times while waiting for dips with that plan right, and apparently it's not as stable and trustworthy as claimed. But I guess a little dip in Tether is better than being taxed by the ATO.

And yeah a Crypto card and currency that can completely replace the doller and be used like dollars would be amazing. We need one that is super unstable for buying low and selling high to make money, and another stable one to cash out profits into for use. ETH is actually being annoyingly stable lately, maybe that is it's future.

>And yeah a Crypto card and currency that can completely replace the doller and be used like dollars would be amazing. We need one that is super unstable for buying low and selling high to make money, and another stable one to cash out profits into for use. ETH is actually being annoyingly stable lately, maybe that is it's future.

if tether goes down as a scam it will pop Crypto for at least a year or two.

seriously boyos why cant i just do this?

wasnt tether fractional reserve?

any how just go an be tax resident of a zero CGT country and cash out there, then bring ur money back to Oz. 0 tax payable

I heard from someone the other day that the ATO is making deals with other countries to be alerted when Aussie citizens make foreign bank accounts, and want info shared with the ATO and the foreign bank to see how much is in there. I dunno if it's true or happened yet or is just some proposed law but it sounds fucking shit.

Of course it's legal. Trust law is about as old as Common Law get. Do you know what you're not going to see flying on the multi-million dollar yachts at Monaco and Monte Carlo? US flags or Australian flags. You will only see rare flags because global whales all make sure everything they own, they actually don't own. Some trust or LLC or foundation in the fucking Cook Islands or the Isle of White owns that yacht.

Ideally you. the person, should be as poor as possible with everything owned by a convoluted network of offshore entities.
Research financial asset protection and permanent traveler 6 flag theory.

If you want to go really deep look into issuing bearer bonds for your entities so there are no actual names involved.

It's a bit of a rabbit hole and I wish we had a /Asset Protection General/ or something because these ideas need to be talked about more on here. Especially when buttcoin hits 100k.

Here you go, faggots.

fucking dog cunts. they raise taxes to the moon because they need dem programs for muhhudshit and all the single moms, then they wonder why capital flight is taking place.

They think were just going to meekly submit to being literally cucked. its not happening.

This is super fucking interesting user, why don't you make an /APG/ yourself, I'd be in there every day. Get a regular intro with all the useful info typed out and pastebinned. This is something the entire board is gonna need at some point, or the government is just gonna bleed us dry of our gains.


This. My tax dollars here in NSW are used to build fucking bus t ways and new train lines no one fucking wants, meanwhile I drive on a single lane fucking road all the way to work every day and if I get stuck bind some slow cunt I am fucked and condemned to be late because there is like 20 meters of broken line overtaking zone for the entire 20 minute drive. I don't need a fucking T way I want wider lanes so I don't get stuck in massive fucking traffic jams on the way home. The government treats taxes like it's own little welfare and just spends it on the stupidest fucking most useless shit imaginable. I wish Australians would stand up and half a tax protest. I'd like to see the government if the entire nation just stopped paying their taxes.

>stand up and half* a tax protes

Have*

Fucking auto correct.

i feel you boyo infrastructure is shit and they throw money around as freely as they print it.

The nations way too cucked to have a tax strike lmao. this country needs a depression more than anything so the people will wake up.

well this kinda a central proposition of BTC tech it gives you the option to find the lowest taxing jurisdiction and get 0 tax there, which will rip out the tax base from everyone else, while the lowest tax jurisdictions get massive capital and tech inflows. It allows jurisdictional arbitrage on a scale unimagined sans capital controls

Forgive my ignorance, but can't you just spend it as crypto and not pay the CGT? Get yourself a TenX card and use it for everything, capital gains tax from bitcoins that are spent rather than sold is disregarded as a personal use asset as long as it's under $10,000 worth of coins.

Alternatively, couldn't you just migrate to another country with no tax, cash out, live there for an extended period of time, then migrate back to Australia?

>It's a bit of a rabbit hole and I wish we had a /Asset Protection General/
+1 for this, would lurk

>this country needs a depression more than anything so the people will wake up.

Not just that, we need a fucking war. We need an all our fucking invasion of our soil, so this counties people can be shocked off their fucking asses and forced to defend it and do something for themselves for once in this entire nations existence. Lucky country shit needs to end, she'll be right needs to fucking end. Lazy fucking populace needs to go. We need to have a strong national identity and a true value and understanding of freedom, not this fucking on/off switch freedom that liberals think we have, that we can just legislate things away or back into existence. We need an armed collective of individualist freedom valuing people, to stand up against this tyrannical fucking nanny state that is wasting our tax dollers away on bringing us back into colonial status for the 2nd fucking time, but this time, chinks are our masters.

I hope the chinks actually properly invade our soil every day just so this country can get it's arse kicked into fucking gear and stop shitting around with useless crap.


I hope those low tax jurisdictions make it easy as fuck to get tax residency there and don't make us jump through hoops. Sometimes I wish nations acted a bit more like businesses in trying to be competitive against each other in luring citizens and a fucking tax base. A free market of lands to live in with different laws to suit each. I just hate being stuck in Australia under our gay fucking laws, and knowing so many other countries have it better than ours. Why can't a nation set out to steal citizens against like America used to do with it's "land of the free" propaganda, stealing citizens from Europe. Fucking hell I want to be lured to some free lands and work there and pay taxes there but for actual good things instead of being stuck in this shithole. Why does globalism aim for global sameness instead of state diversity and competition?

>This is super fucking interesting user, why don't you make an /APG/ yourself, I'd be in there every day. Get a regular intro with all the useful info typed out and pastebinned. This is something the entire board is gonna need at some point, or the government is just gonna bleed us dry of our gains.
This is true user but i'm just not the thread creator/curator type.

Here's a few vids to get you started anyway:

youtube.com/watch?v=DHNHasrOqdE
youtube.com/watch?v=5AC4XTmXses
youtube.com/watch?v=8GAEGFqT2xY
youtube.com/watch?v=TMIpZIfiGGI
youtube.com/watch?v=Y4hnc2TiK9k

The sheer dexterity these nips control those bots with is obscene.

Dude thanks so much for this, watching it all right now. Gonna save all of those videos to my hard drive and watch tomorrow after work.

We need someone to create a regular /APG/ thread.

Just use a bitcoin ATM in Aus and nobody will know

No prob mate.
There's been some decent posts on the subject if you search the archive. Some of the company law tricks are crazy. Like 'captive insurance'.
>you start an insurance company with its only customers being all your other companies
en.wikipedia.org/wiki/Captive_insurance

Yeah, it doesn't work like this anymore. And it's not only Australian tax authorities making deals, it's like half of the jurisdictions in the world. Look up the CRS and AEOI agreements. Pretty much as soon as you deposit money into a foreign bank account all information will be automatically sent to the tax authorities in the country where you are tax resident. Bank secrecy is dead

List of jurisdictions participating, more being added all the time
oecd.org/tax/transparency/AEOI-commitments.pdf

This is extremely interesting. Do you have any idea how much it costs to set up all this and how long it would take? What is the minimum net worth you should have for it to be worth it?

God I've always loved all these little corporate tricks and shell companies and holdings companies and all how ingenious it is. I can't wait to start doing it myself. I know it's not the right thread but is the right board. Always wanted to start a tech company but I know I'd get raped in taxes in Australia, my dads construction business gets raped in taxes each year and he's struggling. Having a good thread on Veeky Forums for starting companies with our crypto profits, then knowing all the ins and outs of all these holdings companies and offshoring them to make sure we get maximum profit from our business ventures would be great.

>List of jurisdictions participating, more being added all the time
>oecd.org/tax/transparency/AEOI-commitments.pdf

>No Thailand listed

Fucking based. Lads get your Bangkok bank accounts set up ASAP.

based constitutional monarchy thailand at it again. liking that country more and more

>Do you have any idea how much it costs to set up all this and how long it would take? What is the minimum net worth you should have for it to be worth it?
There are costs in the set up and yearly fees for each entity you start. But it's a lot less than people realize. You can have an LLC in Belize for under $400 for example.
The costs start adding up if you go to an dodgy asset protect place that wants to make all these retarded plaques and elaborate certificates and shit. If you have a lot of assets/net worth it would be wise and money well spent to use a lawyer that specializes in offshore asset protection.

As for net worth needed it's a bit of a sliding scale i'd say. Everyone can benefit but unless your pushing 500k it's probably unnecessary to go the whole llc/trust offshore matrix of mayhem. For 100-500k a simple country of origin trust or llc would suffice. And if you're a neet simply hodling cryptos it's not really needed at all. BUT in the the future when BTC is 800k and ETH is 150k and you want to snap off a chunk to buy a lambo, you will want to know how this shit works.

Don't get your hopes up, Thailand just recently joined too.
oecd.org/ctp/exchange-of-tax-information/thailand-joins-the-global-forum-on-transparency-and-exchange-of-information-for-tax-purposes.htm

I also imagine Bangkok Bank will be more strict after that Alphabay guy got caught having a lot of illegal funds in their bank accounts

The best place to have a secret bank account for a non-US person seems to unironically be the US. The US is not a member as you can see.

or you could choose countries like cambodia, mongolia, georgia and earn 5%+ on a simple USD bank deposit, but not sure how much I would trust the banks in these countries

I will definitely look more into this, thanks for all the information.

But let's say for a neet holding some crypto or stocks, would there be any benefit in this if you already have tax residency in a low-tax/no-tax country, dual citizenship, multiple offshore bank accounts etc?

when they discover you have money in a foreign bank what happens? they demand a piece?

i dont care how many hoops i have to jump im not paying CGT.

Im australian, but i qualify for a british passport which would make me a non dom citizen. does this mean i can move my BTC to the uk and cash out? only asking because you seem very knowledgable.

If those are all in your name, then yes. Asset protection isn't just about legally limiting your tax, it's about protecting what's yours from everyone else. People get hit with frivolous lawsuits constantly. Owning as little as possible reduces your risk but it also make you a less desirable target.

Well if you are a neet and they discover that you have suddenly deposited a lot of money in a foreign bank account they would probably start asking questions about the origin of the funds and demanding you pay tax on it. Maybe audit you further and give some kind of penalty for not reporting it on your own. I am not sure, but not a risk I'd be willing to take. In my country tax evaders seem to be getting worse penalties than murderers ffs.

You could look into the asset protection strategies the other user talked about, offshore trust and all that. The simplest way if your life situation allows it would probably be to move away from Aus to a country that doesn't tax capital gains/or just doesn't tax crypto. Then make sure you qualify for tax residency (usually by staying over 183+days in the country during a tax year) and then simply cash out normally.

I see, that makes sense.

Now I know what to spend next week researching, maybe I'll start a thread later

If you want to be a dodgy cunt i've been told you can literally trade buy stacks of dirty drug money on the dark markets. They'll literally post you 100k cash to your door. High risky but it happens.

Risky in what way? The cops are tracking it? The money is being watched?

What if I plan to use my cash only to go overseas and exchange for foreign cash? I mean who doesn't use fucking paypass in Australia anymore anyways? Cash is for getting currency conversion discounts in 3rd world nations.

If you guys want to check out some of the things that are possible out there have a look though - ptshamrock.com/
I can't vouch for them in any way but the services they claim to provide ARE available out there in the wild.

It's crypto + darknet so the chances of being scammed are at least doubled. Plus if you DO get it posted you're now getting a shitload of drug money off drug dealers posted to you. I don't know about you but i'd want same crazy opsec in place before even thinking about something like that. For the police, yes, but I also wouldn't be too comfortable with drug dealers knowing where i live with my mountain of cash and crypto.

A safer way would be to find an old wealthy gold bug and convince him about crypto being the future. Most of those types have gold/silver because they hate the government in the first place. Sell it to them for cash face to face.