How to cash out tax free in aus?

HOW MY AUSBROS

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Hello ato thanks for making this thread for the 1000th time in the last two years

But there's one little problem WE ARE NEVER SELLING

i thought u are chain analysis expert, the fuck are u asking us? We are degenerate gambler here, we only lose money.

I dunno but hurry up with my fucking tax return ato you lazy fucks

Just pay tax bro, get it out of the way.

The ATO will be hungry for money

Move to Portugal user, say a big FUCK YOU to (((Frydenberg)))

im not selling but when its 1000 EOY how do i pay for food (lobster)

The ridiculous 45% cgt rate for anything over 180k incentivises dishonesty or the finding of loopholes. Fix this, glowniggers.

just give scomo his fair share m8

Pay your taxes... or it might come back to bite you in the ass and ruin your life way later.

If they really start to check on you... they can go back a decade even or more...

I've been thinking about this too. Singapore offers a flat rate of 300k for large crypto withdrawals but I can't imagine the ato Jews letting that slide

Thing is, I fully intend to use my link in the public good. I'm sure that's a way to avoid 'tax'

Well, it's good to pay taxes. And you will have nothing to worry about (potentially going to prison and losing everything).

threadly reminder that if you deposit more than $9999 into your bank account in one go your bank is legally required to report you to the ATO

Thank you, Zig Forums assigned ato golem. Thing is, I reckon I can do far more good through funding my own non profit initiatives than I can by giving you an enormous chunk of cash to spend on office diversity training.

more than a decade
australias oldest micronation The Hutt River Principality is being forced to pay 50 years worth of taxes after dodging the ATO for half a century

the government spend in billions on austrac, and this is their experts. Fucking sitting here under locked down to post on mongolian basketweaving forum hoping to trap an idiot.

just pay your taxes. 50% discount if your gain is more than a year old
money.com.au/capital-gains-tax-calculator

which means if you get like 36k out tax free per year

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you HAVE held your linkies for over a year to get the 50% CGT discount, r-right user?

One of my mates is an accountant at deloitte and he's a fuckin weapon. Hell be my first point of call when I make it. Getting advice from a good accountant will be worth paying for when the time comes.

Convert to BTC and sell on local classified for cash

Funnel it all through real estate investments

doesnt matter how good your accountant is, what you owe is straight forward as fuck and you gotta pay

Thats if he has any free time lol, fuck big 4

Are you using coin spot? I have an idea I'm still putting together that may work

The problem is you need to pay tax on trades in Australia

Don't withdraw 180k all at once I guess.

Maybe convert to the gold token on coinspot. Then exchange the tokens for physical gold. Then exchange the gold for cash.

Maybe if yoy wanted Australians to prosper you would remove your shit house crypto tax laws you fucken useless cunts, I hope you all got corona at the BLM protests with the restt of Melbourbastan.

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You cant cash out idiot. The only way you can avoid tax is if you XMR wash your tokens early and then hold it all as usd tether for the rest of your life and use it to buy the things you need, or sell it in person for cash.

its half of that if you hold over a year. PS every trade, even coin to coin is a taxable event. Hold for a year, get the CGT discount, pay your taxes. if your paying taxes your making money.

Is it true that in NZ they can just make money on crypto and not pay any tax?

Just book a travel with your crypto using travala (Ava). No way they know

No, every time you convert it's a taxable event. I was looking at it myself just hours ago.

>even coin to coin is a taxable event.
if i bought $10000 worth of ETH then used that ETH to buy $10000 worth of link, how much tax would i pay just from that coin to coin event?

This applies in Aus?

Zero - because you haven't made a capital gain or loss. However, if you bought $500 worth of eth, it appreciated to $10000, then you transfered it to LINK, you would pay CGT on the $9500 difference.

I strongly recommend you speak to an accountant if you are asking Q's like these to save you getting fawked.