Have 50k in crypto - Still applying for centrelink

Ausfag reporting in, poor as fuck 3 months ago, worked at a shitty job in a town infested with natives (im not racist but every stereotype you read about is true x10 in the northern parts of Australia especially the smell). Invested 5k 2 months ago in crypto - now worth 50k. Going back to school for 1 more year in a couple months and still going to apply for centrelink payments. Should I feel bad? they only check your bank account balances when you sign up lol.

Nah fuck feeling bad about that shit, the goverment wants to tax you on your earnings so why not milk the system before you reach lamboland? Bonus points if you invest your welfare roobux back into crypto for government-funded gainz

Fuck centerlink and fuck taxes.

Most of your tax gets donated to Telstra anyway. Scam them good for me.

This world isnt ready for crypto and we should destroy the jej while we've got the element of suprise.

dole bludger general

Dont feel bad, because youre not the only one doing this.

Me and my entire group of friends dothis, and we have in crypto much more than what you have. You think im going to give up cenno and let this government cuck me for refugees? Lol

>Should I feel bad?

Kiwi here. I overdrew my student loan to buy 2k of BTC in 2016

Now i have no student debt, a house deposit, a new bmw and still 5 BTC

Do it

taxes?

Taxpayer here, go for it. Happy to have centrelink monies in the pockets of coiners rather than immigrants that come here, shit out seven kids and can't even be fucked to learn English.

About 14.2k after i withdrew 110 k (NZD) . accountant sorted it out, we dont have capital gains here so was negotiated with IRD as a sales tax.

Australia is a socialist shithole.

Is that true? no capital gains in NZ? I'm a NZ citizen and Australian citizen, would love to get out of this without paying tax.

nice, glad you won't be getting fucked.

2k usd in 2006. 380-450 usd for each btc. = max 5.2 btc. Nice larp tho

I'm a 'seppo' and a bit jealous of your situation; you can milk your govbux for all you wish (funnel into crypto) then finish your affairs in AUS and move to NZ to cash out

or 2000 btc for 0.8 mil. anyyway nice larp

>this

You realise you have automatic residency in NZ by holding an Australian passport right?

Go to fucking NZ and cash out, enjoy the mountains. In fact, stay there, Australia is fucking shit, take a look on the news, drunk bogan idiots fighting on the beach on Christmas... WTF

Same here bro, except I get the benefit from WINZ.

Pretty comfy desu, worth about 120k, started with 3k back in March, would of had more if I didn't gamble and spend so much profit.

Never have to work a day in my life.

Yup , no capital gain then, and IRD have no idea what crypto is.
There will be capital gains will be coming thanks to our commie bitch PM tho>

470 nzd In JANUARY , read a chart. I also cashed out all BCash , BGold and gradually bought more during the year.

Who is your accountant/what firm do they work for? I'd be interested in contacting them over this.

Get in before april before tax changes.

>still had to pay 14.2k tax
fucking theft, what the shit

No, you mustn't feel bad. Take back your taxes from the government. They've literally stolen them from you in the first place.

Asked an accountant at BNZ. They seem to be informed on crypto since the boom

Better than the 40+k id have to pay in the USA

You should proactively profiteer off this shitty faggy country as much as possible. Consider it a form of asymmetrical NEET warfare.

>asymmetrical NEET warfare

>Should I feel bad?
Wait till you cash out and the taxman is on your ass.
Suck on the big milkies of mommy government as much as you can because you will pay for it weather you do it or not.

fuck that, got $150k in crypto and still get centrelink money coming in lmao

based bludgers

What is the current tax situation in Aus for crypto?

>im not racist
t. nigger

Please aware me on how you did this, OP

Use the cunts for everything you can because when you start earning money they take it all away. Im paying roughly 50k-60k tax a year.

But serious get a job cunt and stop mooching of my tax dollars.

pretty much multiply your pay check before tax by .71 and you get your pay for the week. so 30%.

Can you just walk into any BNZ and ask for an accountant? I'm from hamilton btw.

Fucking TSB wouldnt even open me a savings account when I told them I was in crypto. Cucks.

Set up a PTY LTD. Cash out to the business, loan yourself the cash on a 7 year loan under a division 7a loan (you will have to pay your Pty Ltd interest, it’s your money though, you can just ponzi loans to yourself as you go to pay the interest though). Feel free to pay yourself a wage up to your Centrelink income threshold (if there is one, I don’t know much about welfare) and the tax free threshold.

Company pays your phone, etc change you ppor to be interstate and pay yourself travel alllowances tax free. If you can’t get the cash out of the business pay the 28.5% tax rate and down the track withdraw as a franked dividend and claim the input tax credits.

Definitely a significant amount of paperwork though. Also, confirm the thresholds before paying an actual wage or you will lose your Centrelink.

Not an accountant, if you get raped for tax evasion it’s not my fault. I come up with the schemes, I don’t know if they are legal or not, definitely grey area...

Never tell your bank about crypto lol
I need help getting my swift sorted and they asked what for.
I just said "trading sites"

What did you drop 5k into for the 50k o.o?

You can make much more with ACs premium calls, usually priced at 1k/month discord.gg/CmteP8j

the government is an anti white hate group so no dont feel bad. and stop apologizing for le racism.

its either you or some family from some shit hole country that will never ever even become australia citizens and work for cash in hand at some low paying low skill high labour job like cleaning or bricklaying that some jew will take advantage of and employ them and

ah fuck it

I'm not paying that much dipshit. Is there any way to get the signals for free?

You'll pay more back in the long run if you're not dependent on cashing out a bit every month to live now. You can also get rich enough to support yourself with dividends and even be generous with charity. You're doing what's best for both you and your country. Just don't lose it on shitcoin.

Ausfag here that has been investing ever single dollar of my $540 fornitely Centrelink payments into crypto for the past 6 months

Don’t feel bad about it at all