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23924114 No.23924114 [Reply] [Original]

But I've NEVER in my twenty-something years filed a tax return. tl;dr my life, worked casually + studied + travelled basically nonstop for the last number of years.
Could this possibly work in my favour if I'm not planning on filing a tax return in 2021 and keep my crypto gains completely off the books? ATO has never heard from me in their lives.. why would they suspect something now?

>> No.23924751

>>23924114
So you don't have TFN? At some point you'll have to file tax. And when you do you'll have that backlog of blank years. Also last year everyone who bought crypto got a email saying you need to pay tax. I got the letter but didn't pay. I'm starting a rap career and need some street cred.

>> No.23924779

How much you profit mate? How are you calculating it?
If it went through a bank in or out you’re always at risk.
It’s harder for them to track trades outside of kyc exchanges. Cash in/out is your biggest issue.

>> No.23924804

>>23924751
How did they know you bought crypto.
They track money to coinbase or an Aussie exchange?

>> No.23924874

>>23924751
Not a bad idea. You will be able to call yourself MC Buttfucked in the Ass.

>> No.23924910

>>23924114

I hope you have a VPN. The Australian authorities have bots that analyze threads on this website and log the Australian IP addresses related to posts containing keywords such as "tax", "off the books", "ATO", "crypto gains"

>> No.23924968

>>23924910
and also “niggers”

>> No.23924993

>>23924114
The Reserve Bank of Australia are moving ahead with digital australian dollars. If you think you can get away with not paying tax, you're missing the point of cryptocurrency completely.

>> No.23925003

>>23924114
you would have a backlog of tax returns to do on your ato account surely

>> No.23925019

>>23924751
ive got that email twice now, the second one was more threatening. pretty sure ive cashed out close to fuck all though, im hoping LRoS and coinspot keep records

>> No.23925089

>>23924804
I used coinspot, IR, and Coinbase. So it could either be one or all. But it's definitely through exchanges.
>>23924874
Not if I do the fucking
>>23925019
Oh shit haven't got the second. I'm spooked. Never cashed out but spent. Not even sure how I explain what I bought lol.

>> No.23925105

>>23924114
I wont play it that way desu. i would play it the BoringDAO way

>> No.23925170

>>23924968
Mostly this

>> No.23925366

>>23924751
I do have a TFN, I've just never filed an 'end of financial year tax return' if that makes sense. Also what if I were hypothetically planning to move overseas sometime 2021.. I won't be really ever be needing to file a tax return.

>> No.23925382

>>23924779
yeah I figured this might be a risk. I kept cash transaction onramps under $1000 into binance from a number of diff bank accounts.. off ramping is not an immediate concern for me, I may just tether my gains and not convert to fiat.

>> No.23925398

>>23925105
The BoringDAO way? The bend over way?

>> No.23925404

>>23925089
yeah see I used none of those exchanges, none of the 'local' australian exchanges either.

>> No.23925444

>>23924804
>>23924114
I didn't get a letter but it said on my gov where tou file a return, to file CGT because "They have a record of me purchasing / disposing of crypto"

The exchange i used to purchase was, coinjar.
Coinjar said they submitted to the ato records of everyone.

>> No.23925465

>>23925089
>Never cashed out but spent.
I'm basically in the same spot, going to an accountant soon to get them to file my return.
Also, who knows all the trades etc I did as well.
I didn't really keep track.

>> No.23925532

>>23924114
worked at the ato for 6 years and confirm most people working there are retarded....myself included ofcourse. Just call up ask if you have any reported income for those years then just ask the person to enter a RNN for those years and boom. We keep saying that we track crypto but theres zero evidence i can ind of that so unless youre moving like 100k in and out of bank accounts you would most certainly be fine anon

>> No.23925670

what about buying from wyre

>> No.23925864

>>23925532
lol I wanna believe this is a larp. but I know how abhorrently organised most other branches of ausgov are so I'm inclined to believe this is partly true lmao

>> No.23925940

>>23925864
i wish it was a larp, it was a fucking sad 6 years

>> No.23926736

>>23925864
>I know how abhorrently organised most other branches of ausgov are so I'm inclined to believe this is partly true lmao
This, even if it were a larp its probably accurate anyway kek.

>> No.23927146
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23927146

>>23926736
>>23925864
Inb4 it's the ATO trying to get find someone they can parade around in the media

>> No.23927237

Capital gains t4x is 33% in my country. I really don't know what to do because fuck paying that.

>> No.23927376

>>23924114
This good sir, tax debartment not know you, you practically non-exist

>> No.23927487

>>23924114
Tax posts for the UK, Aus, and the US all coordinated on this board at once.

What an amazing coincidence...

>> No.23927528
File: 90 KB, 1024x1024, 1604035306613.jpg [View same] [iqdb] [saucenao] [google]
23927528

>>23927376
KEK
thats honestly how I feel.. maybe it's naive though

>> No.23927594

>>23925382
There's some gold dealers that let you buy in bitcoin. So maybe think about converting to PMs and exchanging for fiat as you go.

>> No.23928082

>>23927487
>see a tax thread
>start thinking about taxes
>make your own tax thread

take your meds