So the Australian Government followed Burgerland's suite and has ruled Crypto to be subject to Capital Gains Tax. They literally formulated the HARDEST and MOST DIFFICULT TO UNDERSTAND way of filing taxes on crypto. So how can we do a number on the Aust' Government? Was thinking at least to throw some fake anonymous tips to burden their workload.
Oh ive already filed a police report and said some niggers broke into my house and stole everything digital related. Hopefully going to have this up my sleeve when I tell them I don't have any records.
Unless ur declaring ur crypto as lost can't you just export ur trade data from exchanges meaning any data loss is irrelevant. Tbh im only declaring the trades I've done on btcmarkets.net (I've only cashed out 16k)
No way in sharing my binance and bittrex profits with the ATO
Levi Kelly
Do you mean crypto to crypto transactions or just crypto to fiat?
Do you know how severe the penalties for filing a false police report are?
Liam Peterson
I don't see how this is a problem? Just pay taxes on the difference between fiat in/fiat out when (if) you cash out through btcmarkets of living room of Satoshi or whatevs.
Eli Lewis
Yeah I’m sure he will tell them he lied about it.
Evan Allen
>Make a bank account in a foreign country >Cash out to fiat of foreign country into foreign bank acc using country's top domestic exchange >Use transferwise xfer foreign fiat to local fiat and send yourself money >If asked, the money was "gift" from a friend
Mason Harris
Yes I'm sure police rely 100% on tips and never do any of their own investigating. The version of the irs is going to come knocking one day wondering how OP can afford nice things
Isaiah Torres
That easy huh?
I bet they would accuse you of being in the drug money trade and hold the money.
Colton Cruz
Just pull your trades out of the ass. They will never be able to verify them. They don't even understand how private keys work. Just make sure your data looks legit. As long as you pay taxes and declare your gains, they won't scrutinize you.
Charles King
Don't lie about trades on Aussie exchanges, it would be trivial for them to retroactively process all of the Aussie exchange data a fews down the track. Even if they don't do it this year, the data isn't going anywhere
Ryan Phillips
Bruh, HK and AU have double tax agreements. At the moment binance is subseptable to to AU tax law - what a joke...
I’m staging a theft of my crypto. As a said a bunch of coins jumped thru me bloody window and stole everything that’s has a electronic pulse
Now wat
Noah Green
Binance have optional kyc My account isn't tied to my identity, how can the Gov prove I made money
Logan Taylor
Sure, but I'm talking about overseas altcoin exchanges, most of which don't even require KYC
Nathan Moore
Good thing I identify as trans-notaxerino I don't have to pay taxes, and if the government is against me then they are racist bigots and I will sue them
Ian Collins
How about that one time you transferred something from your KYC’d Aussie exchange to binance?
Regardless it’s blockchain. The data is there and always will be. They have an infinite amount of time to workout how they get this information and apply audits retrospectively
Chase Morales
Remember when the Australians made fun of America because of their crypto taxes.
Pepperidge Farm Remembers.
Gabriel White
the problem is these retards overthink everything
Blake Gonzalez
You should read the ATO statement phaggot. Crypto to crypto is a taxable event and must show your trade and pay.
Do you even have anything to be taxed you brainlet
Mason Morgan
Why don't you just declare your capital gains properly you fucking brainlets >u-uhuhuh but filing taxes is too hard then hire an accountant if your IQ is really 2 digits
Benjamin Reed
Do u like being fingered by the government? I don’t want to give away my money you beta
Parker Cruz
>He plans on meticulously recording every trade on non KYC exchanges and handing them on a platter to the gov come 31 June every year like a cuck. Come on mate, the ATO are bastards, but if you think they are gonna hire a bunch of people to verify your trade history on Ethscan, then I've got a Monero to sell to you. Just chill on the lambo buying and they will have no reason to believe all you did was hodl btc/eth/ltc
Easton Wood
Do u like being fingered by the government? I don’t want to give away my money you beta
Levi Gonzalez
thats nice. how do you open a bank account without using your passport you deluded fuck face.
Ryan Jenkins
only taxable if its in profit and not in loss you ass hat.
if you bought crypto at $5 and sold at $6 then you get taxed for $1 of that profit.
if you bought at $5 and sold at $4 that is a loss.
also wash trades wouldnt trigger losses. that has a 30 day waiting period nigger.
burgerland rules.
Bentley Clark
>be Aussie >straight up open foreign bank account in Singapore with your Aussie passport like a Chad. > stay in Thailand for 184 days banging ladyboys. > now considered non resident for tax purposes in Australia. >proceed to cash out in Singapore (lol foreign income molon labe ATO) >Singapore charges 0% capital gains tax >enjoy your tax free crypto bux
Oliver Edwards
I put in about 50k back in September. Mainly btc eth and some alt coins. Was up about 200k and it had slowly dwindled back to 54k. Better not have to pay tax and sort out all my fucken shitty trades. Rather not remember that horrible experience
Mason Lee
I like this user...
Colton Wright
Just move to New Zealand and cash out there. Either that or trade into Monero for crypto-to-crypto related stuff.
Nolan Watson
Literally my plan, fucking yanks will be crying and panicking about uncle Sam, while we will be sampling the finest ladyboy ass the orient has to offer
Adrian Ramirez
Listen up you Mong fuck
Let me run this past ya you flop
I put 20k in sept and traded... heaps cuz. Went to 250K and now back to 70K
Now what
Matthew Scott
First in last out. You don't get to pick and choose but your case sounds simple enough. If you can't prove a gain or loss or the time and dates traded you will be taxed for the full value of each coin. Buy one bitcoin at $10k and trade 100 times to a final value of $20k? You owe taxes on 100 bitcoins valued at $20keach. Now you know why governments love crypto so much.
Jaxson Collins
So can you then move the money back to Australia? I don't want to ride my lambos around in fucking Pattaya
Luis Garcia
Sure you can mate. The ATO can't tax foreign income of non-residents so they have no right to your gainz
