/biz/ - Business & Finance

>>17623895
shameless self bump. I just feel like reality is setting in on even if i make it with link i wont be able to enjoy all the shit i went through and have to forfeit literally half my link gains to the government. wow that was just depressing to even type out

>>17624316
I'm in Aus too, give me half as a birthday gift and I will cash it out without capital gains and give 45% of it back , I'm poor but I know the law

>>17624316
>>17624316
I wanna know more about this too. Main thing I know is that have to hold your LINK for over a year to get a 50% capital gains tax discount.

>>17623895
How will staking income be taxed?

I am never selling my linkies and plan to live off steak for the rest of my life. How will that be taxed?

>>17624409
What happens if I keep adding to my link stack? Only the linkies I bought a year ago should be cashed out?

Honestly the best option would be to cash out just enough to move to a tax haven and cash out their then return to Australia or move to whatever country you want and go from there.

>>17624316
come now, are you a racist or something? Who is going to pay for all the Somalis and other nignogs if not your taxes? Do you realise how life is expensive these days in Melbourne? You don't expect these poor war refugees to work, do you?

>>17624450
Melbourne is dead anon I'm sorry for your loss.

>>17624449
You need to have time to settle down in that country right? You can't just get the tax free benefits as a tourist?

>>17624441
Yeah which is why you have to track and record everything. The real big brain plan though is >>17624417
Would steak gains count as income? Would earning them as a business entity make more sense then as an individual?

>>17624459
it is a vibrant diverse mutlicultural city you racist piece of shit! Pay your taxes so it can continue to thrive and flourish!

>>17624417
Staking income may be taxed differently but it depends on how you use the profits. If you hodl them it would be an investment and cgt applies. If you sell for a good or service then you might only pay gst plus maybe income tax. Anyone have any experience?

>>17624466
I'm not sure on the specifics but I think some tax-havens you can spend 3-6 months their to become a resident and then tax out.

I mean relaxing in some tax haven in europe for a few months and becoming a resident to enjoy the very low taxes is probably better then cashing out in aus and paying 30% tax or whatever it is.

>>17624450
Fuck all non whites , as a 18year old I can't find fuck all work bar a 12 hour a week at SeaWorld which hardly covers rent , these imports are making accumulatating link near impossible.

PS fuck the state. I'd prefer not to pay tax but there is little we can do. Have you read the Parker novels? He's a professional criminal but always pays his taxes so he looks legit on paper.

>>17624496
you and all the other racist are going to be reeducated soon. Also, prepare to be taxed worldwide as long as you hold an Australian passport.

>>17624459
Just came here from the US Tbh its a shit hole and dandanon reminds me of the gypo neighborhood in Eastern Europe just more niggers. Theres hipsters every where and it seems like most men here are more feminine than the females which is why they make self depreciating cuck jokes about themselves as a standard. Not to mention everyone is about half as wide as people in the US and skinny fat asf.

>>17624493
So you're going to live there hoping the moon mission is sustainable? I think a better solution would be to square yourself with the state then get your money to cayman islands or Switzerland

>>17624519
Not to mention a 400k house in the US is a 2+mil dollar house here, melb is like California on aids

>>17624519
Stay away from the cities for the real Australia mate. Beach towns and rural areas are much better. Cities are too decadent nowadays.

>>17624534
I don't understand why people want to sell there linkies when they can live forever on the staking income.

If you understand the project you will know that selling your linkies makes no sense.

>>17624562
Cultism is great and all but everything has market cycles. If you can't understand that then you're going to be in for a surprise. Many tokens have staking but desu no one cares. I'll be selling some at the top of the bull in 2021-2022 then buying back in maybe a year or two later if the meta trends hodl.

>>17624551
The gold coast is nothing like I thought it was gunna be its all Asian and indians, the only real upside is a permanent internet connection.

>>17624622
These "people" contribute little to the culture of Australia. They require special markets, shops, etc. Then they just interact within their own little worlds. Most people are apolitical and have no idea why the quality of life is going down rapidly.

>>17624562
because im done with crypto man. this entire thing is just one massive cluster fuck of bullshit and human emotion over coins that are probably never going to actual work in the real world. Lets face it, crypto might one day do something important but who knows how many bull/ bear cycles we will have to go through? i would much rather just get out while im ahead, buy an affordable place i can life so i can start my life fresh free of constraints like needing to pay off a morgage ever again

>>17624650
They advertise jobs on gum tree in picture language and when you put it through translate its always 10 to 15 p/h cash in hand .the merchants try to short change you 3times out of 10 and just say sowwy sowwy when you get testy and point out they are shorting you the amount comes up on the till for fucks sake and I know they are good at maths so it has to be on purpose.

>>17624704
As long as your better off then you were before your a winner.

>>17623895
Hey Anon... last 3 years I have transferred $45000 to Crypto. Done shit load of trading... if I cash out $45000 do I have to pay tax or not?

Trusting me anons. I made same mistake before And now deeply deeply regretting it. You can be selling any amount of chainlink it will be very very huge mistake. I researched this alot and Im 1000% convinced that it will moon passed $1000 usd. You have to trust me frens. This is very very good chance to making big money. I have 220 link that Ive been accumulating now all year. You must trust me frens never ever selling for $10 $20 or anything. Trust me you will regretting it very very much. Ok great guys goodluck.

>>17623895
I'm a Perth Fag and my plan involves Vanuatu and / or Nevis.
Nomad Capitalist is a good channel.

>>17624316
as long as you've had them more than a year, you only pay tax on 50% gains. So realistically the highest possible tax you could pay is like 23%-25% on the profits. That's how I'm factoring it into my plans.

>>17624835
someone clearly hasn't done their research

>>17623895
>im talking serious amounts not paying my fucking water bill with livingroomsatoshi every three months, what should be my plan when link hits 1k and its time to live my life

https://offshorecorporation.com/captive-insurance-minimum-required-capital-and-surplus/

https://nomadcapitalist.com/2017/06/07/remote-banking-estonia-e-residency/

http://www.mooresrowland.tax/2019/11/6-steps-to-starting-your-location.html?fbclid=IwAR0Tj_vBx3Om8Fl-7kK5VqltJBSK44JqTInpJDNQf1pMBr7_G5s9612aHvk

https://www.sovereignman.com/citizenship-by-investment/?utm_medium=email&utm_source=sm_notes&utm_campaign=notes&utm_content=20191107_cip

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-panamahighlights-2019.pdf?nc=1

https://www.freedomsurfer.com/uk-llp/

https://www.freedomsurfer.com/ztn-home/

https://www.xolo.io/pricing

https://flagtheory.com/residency-in-paraguay/

I've been researching a bit and those links here are just a few that I found/other anons found. There are other links on other caribean places which also seem quite juicy but I'm not finding them right now.

If any of you fags use discord you are more than welcome to join my server and also contribute with other links/discuss other solutions on offshore biz and how to pay less taxes. Server id is TcbT8yY . See you fags there!

>>17624797
I was about to call u a retard but then I remembered what country we’re in and now your questions seems perfectly legitimate...I wanna know this too

>>17623895
I cashed out about 100K for a car in Dec 2017.
Did it via BTC markets and paid CGT (less the 50% discount) It was only BTC that I'd had for over a year.
I'll probably do the same with Link gains if once it hits $1k EOY

>>17624449
Moving to a foreign country is a CGT event

I.e. from tax office point of view you have sold the link

It’s fucking stupid but it’s basically to prevent people doing exactly what you suggested

>>17624833
Based fellow Perth fag

>>17624417
How much link do I need to live off staking?

>>17623895
I cashed out $90k in tether a few weeks ago. I used coinspots OTC desk and paid a 0.01% fee ($90). I lost maybe $600 on the slightly lower sale price (I got $1.475 for my tether as opposed to the market rate of $1.48). All in all 9/10 would do it again.

this thread glowed

>>17625637
I’m seriously considering this. I’d be betting on the CGT expense straight up would be a small fraction of my link stack in 2-3 years time.

>>17625434
Thanks for the links anon

perth fag here. dont give a fucking CENT to the government. use the tools the rich have BUILT into the system so that THEY can avoid the very taxes they expect us to pay. there are thousands of loopholes. you have to do your due diligence. its just that 'they' never expected us to beat them at their own game. godspeed

let me give you a head start
https://en.wikipedia.org/wiki/Offshore_magic_circle

>>17624704
this. fuck waiting forever if i can buy a house and shit with gains. ill leave a bit of link for 1000$ just for the memes.

>>17624878
Obviously not; I get all my investment advice from 4chan. Whatd i miss