Non Footy Chat Thread II

[Poupou Escobar]

You told me it was all a Ponzi scheme and to sell my Doge.

Sell at the top ffs, not at the bottom. Have fun staying paw.

 

[Avenger]

Sell at the top ffs, not at the bottom. Have fun staying paw.

You need to be more specific. I put in $100 and pulled out $170. That’s better than a Winx bet.

 

[Gronk]

You need to be more specific. I put in $100 and pulled out $170. That’s better than a Winx bet.

Gambling in Australia is tax free unless you conduct a hustle enterprise.

You're supposed to declare crypto profits and pay CGT at your marginal tax rate.

True ?

 

[Poupou Escobar]

You need to be more specific. I put in $100 and pulled out $170. That’s better than a Winx bet.

That is ballsy. I cashed out at $115 and put it all in a high interest savings account.

 

[TheCrowe]

That is ballsy. I cashed out at $115 and put it all in a high interest savings account.

4% p.a?

 

[Avenger]

Gambling in Australia is tax free unless you conduct a hustle enterprise.

You're supposed to declare crypto profits and pay CGT at your marginal tax rate.

True ?

Yes. You end up paying 25% on your total gain on average. However if you withdraw and turn it to fiat currency in countries like Singapore or Germany it’s tax free. Plenty of assets to purchase in the EU that will accept crypto as payment without converting to the the local currency. A coastal property in Montenegro for example.

 

[the phantom menace]

 

[Gronk]

Yes. You end up paying 25% on your total gain on average. However if you withdraw and turn it to fiat currency in countries like Singapore or Germany it’s tax free. Plenty of assets to purchase in the EU that will accept crypto as payment without converting to the the local currency. A coastal property in Montenegro for example.

Exchanging crypto for another crypto or real estate here there or on the moon is a CGT event.

What you’re saying is, they shouldn’t find out about it.

AUSTRAC gets reporting on trades.

 

[Avenger]

Exchanging crypto for another crypto or real estate here there or on the moon is a CGT event.

What you’re saying is, they shouldn’t find out about it.

AUSTRAC gets reporting on trades.

Some countries don't impose Capital Gains Tax (CGT). AUSTRAC lacks the jurisdiction to monitor overseas transactions and is unlikely to focus on crypto being cashed out, converted to other cryptocurrencies, or exchanged for other assets in foreign countries. Plus, it's on the blockchain—decentralised and essentially anonymous, remember?

 

[King-Gutho94]

Yes. You end up paying 25% on your total gain on average. However if you withdraw and turn it to fiat currency in countries like Singapore or Germany it’s tax free. Plenty of assets to purchase in the EU that will accept crypto as payment without converting to the the local currency. A coastal property in Montenegro for example.

Budva is a shithole.

I wouldnt go back if i got paid a million bucks a dump of the highest order.

 

[Gary Gutful]

I don't see why wealthy people are somehow dickheads for not investing in crypto. I assessed and decided it isn't for me. I'm still doing OK and would happily shout Avy a meal at Pippis.

 

[T.S Quint]

I’d shout Avy a meal, but I wouldn’t be happy about it.

 

[84 Baby]

Sell at the top ffs, not at the bottom. Have fun staying paw.

*Pau

 

[84 Baby]

Yes. You end up paying 25% on your total gain on average. However if you withdraw and turn it to fiat currency in countries like Singapore or Germany it’s tax free. Plenty of assets to purchase in the EU that will accept crypto as payment without converting to the the local currency. A coastal property in Montenegro for example.

That’s not tax free, that’s tax evasion.

 

[Gronk]

Some countries don't impose Capital Gains Tax (CGT). AUSTRAC lacks the jurisdiction to monitor overseas transactions and is unlikely to focus on crypto being cashed out, converted to other cryptocurrencies, or exchanged for other assets in foreign countries. Plus, it's on the blockchain—decentralised and essentially anonymous, remember?

As I said, you reckon AUSTRAC shouldn’t find out about it.

A quick search reveals that at a minimum AUSTRACK receives all records from Binance, Coinbase, Kraken, Coinjar, Coinspot, Swyftx, Digital Surge. That list is certainly not exhaustive.

Unlikely is the word you used. Not a particularly strong position.

Minnow traders for some reason feel untouchable and I get that. Why ? Because that’s the demographic and mindset of the typical crypto gunslinger.