/biz/ - Business & Finance

Bumperydoo

I honestly believe hyperinflation is coming globally and the usd will crumble, mate. I'm a homeowner but if I was completely liquid I would be keeping those shitcoins and boomer rocks just in case. I'm sure property and trades will be protected here like they did during covid so there's that on the other hand.
And besides we're in a bull market now anyway at least til eoy

>>28265074
Either get the first home buyers grant or if you believe in crypto skyrocketing then just rent out a property until that day.

>>28265074
Ausanon what are you doing for taxes? I reached 500k+ and just curious how the fuck i even start.

What kind of jobs do people have who are getting $700k - $1M+ loans?

Whose even earning enough to repay the mortgages on that amount, even with record low interest rates....

Seems odd to me.

>>28265788
I use a website called cointracker, it downloads all of your trade data from different excchanges, and then you can share it with an accountant who can figure out how to tax minimise best.

Seriosuly, there is no way to avoid the taxes, all exchanges do mandatory reporting on trades, and even US exchanges share data with the aus govt.

I am gonna pay the fucking jew, like a good goy

>>28265899
Fintech software engineer. Average senior salary is 150k+ base.

>>28265899
Not Australian but live in London so same clown housing market.

There three main ways of buying a house in London

1) Be a money laundering chink or arab
2) Be a boomer who bought in the 80s and is just swapping equity with other boomers
3) Be a couple in your late 20s/30s, with a a household income of £150k+ with a £200k-ish deposit from parents who released their equity a bit

>>28265417
So you reckon hold off on buying property?
I just don't want to buy in 2 years and my dream house goes from 700 to 900k.

Sure I can make more on crypto, but fuck that would feel bad dropping that cash.

>>28266238
Don't hold off on buying property. That will always be protected here.

>>28266238
Property is going to skyrocket this decade , but so will Cryptocurrency.

Its upto you to decide.

Cryptocurrency will 100% outperform property, easily, by a huge amount, but you wont have anything to live in, in the mean time....

>>28266274
It's a real tough situation.
I can buy now and have a lot of crypto left over, or, I can wait a year and see if the Golden Bull Run gets me to 1m.

Fucking six figure hell is real.

>>28266238
>So you reckon hold off on buying property?

There is a vested interest in keeping property prices sky high. There's still plenty of gymnastics your government can introduce to keep the boomer tap running well.

>40 year mortgages
>inheritable mortgages
>deposit subsidies in exchange of equity
>loan guarantees to lenders

I honestly just don't see it popping off any time soon. Welcome to clown world.

>>28266102
>i only pay tax once i leave crypto,back to fiat
>every year i have to report crypto to crypto 'gains', report, and pay tax on those gains

Which one is right?

>>28266332
At least rents are going down in major cities
My rent declined from 420 to 370 this year and I live in an inner suburb 2 bedroom apt

>>28266419
Second, however the government likely won't care unless you are making a fuck tonne.
Talk to an account if you have 100k+ in shitcoins is my idea.

If it's your first house and you aren't eligible for the First Home Owners grant, you might get the stamp duty waved if it's your primary residence for a year.

Search: First home buyer duty exemption, concession or reduction

Should be a link to the State Revenue Office

>>28266590
In vic, we only get a discount up to 750k I believe. Fucking nearly every house in melbourne is over that price anyway.

>>28266102
what if you are staking on chain, or swapping using dexes?
wtf am i supposed to pay unrealised capital gains? shits fucked

>>28266372
Nah man buy a house

>>28266653
https://www.cointracker.io/blog/australia-cryptocurrency-tax-guide

>>28265899
lots of pajeets and chinks on low 6 figure salaries, think IT/accounting who are willing to save every penny for that 1m + Australian dream.

Unlike the US, being a tradesperson here pays quite well (low 6 figures if you aren't totally retarded) so you've also got young tradies with their wife who works entry level admin PA/EA and 2.5 kids with possibly boomer parents helping in the background.

>>28265074
Get the 20% mate do not under any circumstances take LMI.
You will just be throwing that money away.
t. Ausfags that saved the 20% the hard way

>>28266372
BTC is going to be a 7 figure stablecoin by 2028-2030

Australian capital city property price increases wont beat that.

You have 1 global market of BTC vs 1 local market of Melbourne/Sydney. Its obvious BTC wins that fight, by an insane amount.

>>28266238
Buy property asap. It is never too late to buy.

Get rich quick on crypto and buy a nice house somewhere. Simple as.

A 100x would make me a milly. At that point, I wouldn't give a fuck about house prices because i'm buying a comfy house near the beach

>>28266590
Scored this one myself. I purchased a block of vacant land in 2018. Got the First Home Owners Grant, the Stamp Duty return which added up to be 24k in cash straight to my back account after a few hours of fucking around getting sent in circles by the SRO. Definitely worth it tho. Additionally got 17k from my builder because they took too long to complete the build.

I'm currently saving most of my income and throwing it in a redraw account in the hopes diminish the interest paid over the life of the loan. Currently have 100K in that account. Is this retarded or should I be investing my money else where?

>>28266421
where thy hell do you live where its that low?
my tenants pay $520 pw in fucking liverpool nsw and i didn't drop it for them last year at all

>>28265074
If you wish to get the most gains out of your coins (given that you’re not holding shit) Hold for another 5 years, they’ll appreciate more than the property within that time.

Also how did you get into a fintech SE position? Did you go to uni? Or just work your way into the industry. Godspeed OP

>>28266999
Fairfield, melb. Nice sub too

>>28267043
Uni bachelor of computing. First job 70k, Second job 95k, third job 150k.

Just have to pick a niche (I specialise in backend/devops).

>>28265899
already said, so just adding dual income couples/professionals who either have high salaries, a lot of savings which took years, and/or money from their parents

For me, I just have my savings account, which is hovering just under $40K. I have a long way to go

Does the cost of building a house ever go up? Or is it only the land that's going up in price?

>>28267191
Thanks.
Any advice you can give to a soon to be Comp Sci student?

>>28267355
Both.

My parents knocked down their old house in 1999 and it cost them $125k

They did something similar with a new house they're in and it cost them $500k and it was a smaller build than the one in 1999, about half the size.

>>28267465
>My parents knocked down their old house in 1999 and it cost them $125k

*and rebuilt for $125k after knocking down*

>>28267465
>>28267520
Damn that sucks. I was planning on just buying land for now and building when I get more money but I guess that's out of the window now

>>28267355
be land is appreciating.
Otherwise it’d be an increase in wages, materials and permits. The former seems more logical.

>>28265074
get yourself some property and get your house built. Keep saving if you want but fuck the gooks, us whites are going rural and were going to come back in 20 years for revenge. Or you can buy a 800k + small, old house in melb with the Kims living to your left and the loud obnoxious wogs to your right.

>>28265074
Cunt why you buying a house in shitbourne might as well move the fuck out of the country like portugal because their tax rules aren't fucked.

>>28265074
i honestly dont know why property has gone up in value with no migration and people losing their jobs. its literal clown world. newcastles housing market is now fucked thanks to the sydneyfags, and everywhere up the coast is getting worse thanks to, yet again, sydneyfags. but i still dont know why its gone up in value in cities

>>28267606
I think it depends on location as well.

In 1999 the house they knocked down and built was in Pascoe Vale, for $125k~

In 2019 they house they knocked down and built was in Albert Park, for $500k~

Their house in Albert Park is at least half the size of the build they did in Pascoe Vale 20 years earlier

>>28266102
btw your a loser faggot and fuck you... grow a fucking spine.. STOP PAYING AUSTRALIAN TAXES you mongaloids... Why are you giving the gov your undie money ?? Those faggots give chinks 50k to buy property here... What do you get 20k when its a brand new home in a nigger/wog suburb?

>>28267684
It’s not as simple as flying to Portugal and cashing out.

>>28267699
Media keeps hyping house prices and ownership i.e shitty renovation shows like the block and most normies take their investment advice from the 6:00pm news.

Hey OP, ignore the fags. I have real DD here for you. dont buy a house if you want to earn, build a couple in the suburban/new development areas. The cities, especially melbourne are full as fuck and all the rich city niggers are moving into rural towns along the train lines from the city. Find a quaint rural town along the train line and build a couple “Modern” houses, rent them out to city cucks until it foubles in value, then sell them to those same city niggers.

Easy money and they deserve it for ruining rural aus.

>>28265899
married, combined income ~250K, and ideally a VA loan is about the only way to feasibly do it

Anyone got any info on bitcoin atms in Melbourne and if they are worth it? I have 20k cash that I want to invest but it can't go through my bank,any ideas guys?

>>28267850
it is if you're determined m8 that being said I'm going to Kansai.

T.kansai anon

>>28267699
property is going up soleley because interest rates are cheap. a person on centrelink can borrow like $400k at the moment.

since this thread will eventually evolve into talking about taxes, has anyone cashed out through binance yet? i dont think they report to the ATO

>>28267918
make it stop already reeeeEEEEEEEEEEEEEEEE

>>28267958
You're better off buying Crypto than you're buying Property as an investment.

Buy a house if you want to live in it, but dont buy a property, which is fixed and situated locally to the local market. Buy Cryptocurrency, as it is not fixed to any local market, it is global and the increasing value is is coming from billions upon billions of people, not just from hundred thousand, or few million at best people locally.

>>28267988
HAHAHAHAHA this guy.... has middle class income, makes his mrs work and thinks taking out a 1 mil loan is good to buy a small home over priced home... Brick layers are smarter than you anon AHAHAHAHAHA

Fellow Ausfag. 100K USD in crypto.

Any advice on consolidation. Plan is to defer house-buying just enough to not to pay the opportunity cost of mortgage down-payment

>>28268024
Trying to keep it a secret, you fucking dolebludger?

>>28266929
redraw account lmao
take that shit out of there, fix you mortgage for 3 years at this retardedly low rate and invest the 100k into something that will appreciate
you may be able to pay it off in one lump sum if you aren't retarded

>>28266419
You have to talk to an accountant for anything over 18000, that's when tax kicks in.

man I've mcfuckin had it about 100x over with this clown world shit. I FINALLY get to a point in life where I can maybe think about purchasing a home, and now everything's jacked up 20%+ in just the past year, there's a chink property gold rush with people offering $50K+ over ask within 10 hours of listing, without even wanting to see the house -- and an all-time low availability nationwide.

>>28268205
I could not fathom losing that money if shit goes south. I understand there is risk with everything, what is relatively 'safe' to invest in?

>>28268044
Are you a dual citizen?
When do you plan on going and with how much capital would you need to settle in there???

my mate knows someone whos in jail for 18 months for 750k in btc he tried to evade tax for. ATO doesn't fuck around, do you want a big fella playing with your asshole through the night?

>>28268168
Ahahahahaha how does that make any sense

>>28268414
Bitcoin. $100k BTC can get you 1.6+ BTC atm

1 BTC is going to be worth 7 figures by 2030 at the latest.

>>28268317
OI RETARD LISTEN TO ME the aus government give chinks 50k to purchase property here.. And i bet you pay taxes like your told too... This thread makes me so mad. Its faggots like you were in this mess.. Personally im going to europe, unironically less niggers too.. ENJOY your gook hell

>>28268551
Do you have more information on the 50k incentive???

>>28268474
>selling BTC

lol he deserves it

>>28265074
I'm building a house right now in central vic. I also work in finance (home loans).

Are you a first home buyer?

https://www.news.com.au/finance/real-estate/buying/australia-will-pay-foreigners-up-to-50000-to-buy-a-new-home-as-perth-market-set-to-boom/news-story/21eebff2400bce7bad548c656aa491a4


If this is ok with you FUCK YOU your not white nor Aussie your just a recycled product of the project, you might as well be Waleed

>>28268625
yes >>28268731
>>28268676
classic, this guys... paid for uni, works in non white city, has to grind everyday on a train to his outer suburbs home he can only just afford.. loser. WAKE UP NOOBS

>>28268551
psh, I live in the US, not aboland. That said, not much of a difference these days considering the area in which I'm looking is literally 99% chink and indians buying properties, just looking at the 8 surnames on each property sale in various public county data sources. I have to look for hours to find a SINGLE property that was actually bought by white americans

>>28268731
lel in other countries youre not allowed to own property if youre not born there, but in australia you get paid to buy property here if youre not born here LLEL

>>28268115
What a shitty portfolio. Top kek.

Why did you just toss money and all those shitty alts?

You should be holding BTC ETH LINK and at most 1-2 other alts like AVAX or DOT

>>28268450
Nono I fuck japanese girls in the Kansai area.
Looking at jobs to go over there to pretend to work for the visa.

>>28268414
if you used that 100k in say april last year when btc was 14k aud you would have been able to get like 7 btc which would now be worth 420k
about as low risk as you are going to get in crypto

>>28268816
I'm not sure what you are saying in regards to the reply to me.

But yeah I'll agree with your outrage on the $50k incentive, first I've heard of it. I work with alot of first home buyers and it's hard, also I am one myself. Why would we not be giving them more of a leg up first.

Here's what I've found, $25k home builder grant, vacant land increases by $50k in 12 months.

>>28268247
even if I'm a NEET with no job?

>>28268830
yeah unfortunately australians arent like chris hensworth and actually are all weak cunts who dont stand up for anything.. Our country locks whole states down when 1 person in a hotel has covid.. No one complains everyone just snitches and complies. Anyone who speaks about chinese are racist OBVIOSLY... But look at these cunts payiing 35% tax on their crypto so they can help fund the chinese invasion... We also pay taxes on cars higher than any other country to protect an auto industry that doesnt exist.. Also women here go to university, get in debt, work for 5 years and give up... Losers llike the fags in this thread end up paying for their gf and wives studies .

>>28268838
Thanks anon. Time for consolidation, I guess. But have to pay c2c tax.

>>28268928
Based. How old u? I want to travel a bit once I’m done getting my “ticket to play” and do some fuckin.

>>28266920
where in the fuck are you going to find a comfy house near a beach in Aus for only 1 mil?

>>28268731
Good god this is appalling, who is responsible for this shit?

>>28268834
yeah amazing isnt it?
>MEDIA: PROPERTY PRICES THROUGH THE ROOF
>GOVERNEMNT: We will just make interest rates 0 so boomers can take out a 3rd mortgage on their properties.
>GOOKS: NI HO HOW MI KID GO TO AUSRARIAN UNIVERSIRTY, 50 k FROM DUMB WHITE MAN HEHE, get money from winnie the pooh bank of AUSTRALIA rape fund...

>>28269297
Gold Coast has plenty of comfy houses within walking distance to the beach for under a mil. Central coast even more so.

>>28268816
This is literally me. Right at the edge of Melbourne.

>>28269224
25 m8, did study abroad to kansai. Now visit to catch up with friends.
Looking at lazy IT roles and or meme stuff so I can just immigrate and be alone in a foreign world again. Australia is extremely cucked beyond belief with every lefty thought sliding into Melbourne like no tomorrow.

I can't believe people actually want to live here.

>>28269297
ignore him... Retard has no idea of wealth.. i grew up on QLD most expensive street on the beach. My parents pay 15k a year in rates. RATES! all your electronics need to be replaced every 3 years from rust and every flat surface in your house gets salt grime... STAY POOR

IM TRYING TO HELP YOU FAGGOTS BUT YOUR ALL GOOKS

>>28269129
>Also women here go to university, get in debt
I thought degrees in Aus were subsidized by the government

>>28265074
>in Melbourne
kek thanks just bought 100k

>>28269400
Packing my bags right fucking now

>>28269298
Sad isnt it.. and read through this thread you have retards taking 2 hours of public transport everyday for a 1` million dollaroo house AHAHAHAHAAHAHAHA like wtf is wrong with you ALL.. People who grow up wealthy know what expensive things cost unlike these wagecucks..

>>28269533
They are but they never pay them off because they join shitty art courses fail into 3 other courses and leave with a useless masters.

As you can see, waves.exchange staking rates are over 60%. Earn money without risk.

>>28269129
one of the most criminal things to me has always been the fucking dumbass shit your govt does to basically ban video games AND make them cost like 20% more than they do elsewhere for no real reason

>>28265074
>melbourne
you can buy the land cheap after we nuke it

>>28269533
nope thats what retards think though
>>28269414
yeah anon, its a lot of people.. I live GC in a 15million mansion.. My parents pay more tax every year than these faggots earn.. They give me nothing thankfully but Australians suck so much, no country has a weaker population.. maybe leafs

>>28269609
bro ! dont come here!!! anon is making it sound better than it is.. you will live in a shitty suburb surrounded by mourdis if you want ill give you a list of reasons not to come here..

>>28269642
but you don't need to pay it back at any substantial rate, like the minimum is 1% of your wage
it is cleared when you die and has no interest and only increases with a yearly CPI increase
australia has it good with education costs

>>28269443
I envy your experiences, especially now that we’re locked in. Lockdown has really put into picture the perceptual acceleration of time.

>>28269475
>>28269443

You cunts got a throwaway proton mail? I’m a few VBs deep on sunny afternoon after slaving. Would be down to keep contact with youse

>>28269684
HAHA yeah thats very true! but that is just the beginning of the oversight we have to deal with daily here.. Owning a car would blow your mind with the everyday cost of running + cost of purchase.. Its criminal but no one cares... Im richer than all these losers from my family and im the only person ringing alarm bells.. Tells you something huh.
>>28269916
this is another WALEEED faggot.. WRONG!!!!!!! Your universities couldn't survive 3 months without foreign students....

>>28268731
the government is our enemy, they sell out our country and its resources to fucking scum. People need to stop taking this shit and demand change

>>28269637
It’s why I’m reluctant to ever move to a major city, the air quality is fucking abhorrent

>>28269916
you don't understand, the government wants everyone to go to university even if they will still work nothing but retail after getting their PHD, that being said, university should be free to white aussies, we just need to kill of the extra years they add for more profit and kill of useless courses and set higher standards of entry. we would of course need separate international unis so we can keep scamming the foreigner of course.

>>28265074
selling crypto for a house, wtf faggot and of course you should put the lowest deposit possible, that is unless you don’t feel you can get better then a 2% return annually in the market.

>>28270121
i like you a lot! Usually 1 in 50 ausfags gets it.
>>28270076
1 sec.. can do!

>>28270080
the fuck are you on about cunt i just said that uni debt is a non issue
fucking gronk

Any you boys buy zip?

Thinking it looks like a good buy

>>28269862
this. If you arent in a rich area enjoy being swamped by sudanese niggers and chinks

>>28270185
agreed not everyone needs a degree

>>28270076
VictorB90@protonmail.com

>>28270441
be 1 of any trades, earn over 100k ez. Dont like your gf go work away and earn double that. There is a reason only faggots, women and gooks go to university.

DRC is on a dip! Dracula Protocola. BTFD... Some idiot whale dumps his massive stack and then buys back in lower because all the fools with weak hands can't hold a bag. v2 launching in FEBRUARY. Hold for 2 weeks and you 2x your money. Anything in this market will double your money if it launches a legit product. DRC is legit and unique. No clone, no fork. 100% unique codebase. New front end coming soon.

I'm also watching $trdl. (Strudel Finance) They have a lot of rumors about Andre Cronje connections. It makes sense because the lead dev works full time for sushiswap and $trdl's whole thing is to peg BTC via a immutable protocol instead of wrapping btc in a centralized contract. Even Vitalik said this is important

>>28270076
blueyhatesgooks@protonmail.com

>>28270739
Based
Are you the cunt hangin on Hedges?

>>28270911
let em swing

>IM NOT A CAT

>>28270644
>be 1 of any trades, earn over 100k ez.
Immigration is destroying this. Dodgy chink plumbers / laborers are already a massive problem. Union jobs are getting more scarce, belt and road project initiatives allowing the importation of overseas labor on Australian infrastructure projects (pro tip its not just Victoria wanting to get in on this), mining sector going hard on automation.

Telling someone to go into a trade in their 20's today is like tying a noose around their neck.

>>28270536
>>28270739

Sent email. My email matches my green ID

>>28265074
hedge your whole exposure with 1% in SRS

>>28270911
yeah
>>28271146
This is true, QLD doesnt suffer as much from it yet.. Thats why were a bit delusional. FOBs still come here and can buy homes within 5 years and they have like 5 kids too. Usually shows most aussies waste their money on stupid things like travel and wine.
>>28271163
based green id BUY RUBIC

>>28270911
forgot pic

>>28271456
What the fuck does it do? I’ve never bothered to read because it seems like another flavor of the month

>>28271774
Not gonna shill here but i will say the FUD you see is from the bigger wallets of RUBIC. Go to their site and read through their weekly reports and read about the project itself. Also the latest AMA is on youtube

>>28266238
>>28266274
>>28266332
>>28266372
If the aussie dollar crumbles the banks will be forced to raise interest rates. If the banks raise interest rates people who cant afford their repayments will sell off their homes which will drive property prices downward.

>>28269298
Jews

The ato can get fucked including all the data mining it's been doing for 2 years

>>28268070
lmao id like to see a lender approve a loan for a neetbux recipient through APRA or whatever its called

If I don't sell do I have to tell the gubberment? It's all not realised gains, so I say nothing? Or just how much I put in? Confused here.

>>28273806
you gotta pay capital gains on all crypto-to-crypto trades that make profit too

>>28269784
Oi come to elsy tomorrow night. Say Rhys Bowes sent you at the door

>>28266238
Dont hold off. You need to buy as soon as you can.

>>28273876
So times I flipped some shitcoin I made profit to another, the different from buy to sell?
To be clear:
>Buy $100, Sell $1000, they need to know about that $900?
>Buy $100, Hold $1000, they don't need to know about that $900?

>>28273999
yup

So theoretically if i had a big bag to check out and didnt want to pay tax how fucked would i be if i moved to a tax haven assuming id like to come back for holidays once in a while

>>28274121
Ty mate

Does it make sense for me to hold onto my shit coins like wtc and then sell to offset some cgt?

>>28274239
Just hire proper accountants and use all. The loops the big guys use. Trusts, shell companies, don't put cash through Aussie banks. This country deserves not a cent (not that any other govt does either)

>>28274546
M8 i dont want to fuck around.
>cash out
>buy lambo and prostitutes
If i have to go live in fuckin serbia, peru or Portugal to achieve this without getting raped by tax i will

>>28265074
Youre going to pay $1million for a house in a place that is slowly becoming Bangladesh day by day, in a country that has reached debt saturation with the highest household debt to gdp in the world and so is at the peak of its property bubble?

Average Australian: Yep

>>28266827
I disagree, if LMI is 10k but the house goes up 10-20k in the time it takes you to save the 20% then you're losing money in the end.

>>28269609
fucking dont. It's a shithole thats been invaded by chinks and shitskins

>>28274239
I want to know the answer to this as well, Planning on fucking off to Portugal and cashing out

>>28268115
What platform you using? I got put in with cohenspots fees.

>>28276068
You have to relinquish your Australia citizenship if you do this, and that means you're taxed 50% of all your assets

Australia and Portugal have extradition, so if you tax out there, AUSGOV will send you letter of demand for payment of 50% of your crypto gains

>>28276208
>>28276068
oh, and yeah, if you bought the Crypto as an australian citizen, when you sell it, no matter where you live, you have to pay the ATO when you sell, no matter if you move away to mars

>>28265074
Who Radelaide here?

>>28267806
I did not know that and that's actually fucked. Really sick of this joke of a country

>>28276272
reeeeeeeeeee that is fucked, so anon are you telling me I cant get away from being fucked up the ass by the ato ?

>>28276572
You can if you move to Russia.

>>28276667
Why russia ? will Putin protect me ?

>>28276727
They wont arrest you and send you back to Australia when the ATO sends you a red letter to return to Australia immediately and report to local police station so you can be charged, jailed, and given a court date for your trial.

>>28273926
This cracked me up, that light up dance floor has sent me on trips before

>>28268551
man you have no idea what you are talking about. I'm an eurofag who moved in Australia 5 years ago and seeing you guys complain about your country always make me laugh. Go to France, go to England, go to the Netherlands. Have a look at what it is to have a shitty life in nigger infested cities where you get robbed and knocked out for not giving your pack of cigarettes to a gang of muslims. Fuck you nigger.

>>28276272
I only got into serious trading in Nov last year but in such a short time I've realised how much of a joke Australia is (well, atleast to native born citizens). Nothing like being sold out to the highest bidder. Makes me want to start playing Minecraft

>>28265074
this bullmarket is coming down in flames in the next couple of years just so you know

>>28277002
It's not me vs you, it's us vs them. It'll happen to Australia too (already is)

>>28276272
I'm a dual citizen EU what can they do then

>>28277142

I'm also a dual EU citizen in Oz. I own 3 properties here and was thinking off fucking off to a small country like Cyprus to live like a king on a farm somewhere off the rentals- do you know of any kind of implications for leaving Aus and making money off the country?

>>28277142
If you bought the Cryptocurrency while living in Australia at the time, any gains you make is property of the ATO

>>28277087
Real estate or crypto? I'd say both are due for pink wojaks.

>>28277087
>this bullmarket is coming down in flames in the next couple of years just so you know

Interest rates are confirmed staying near 0

US FED and AUS RBA confirmed to be mass printing additional fiat at an accelerated rate, 10-20X per year will be printed than was in 2008, we already had 15X printed in 2020 than was in 2008.

This bull run isn't ending until the 2030s

>Work in the big city with aims of moving back to smaller city I grew up in
>Smaller city housing price has exploded, even more in the last year
>Probably going to be priced out of owning a home
>Aus gov will do anything it can to prop up housing, to a disgusting degree

Not really getting a fair shake of the sauce bottle here lads

>>28277740
When thats what happens when all your politicians are property investors

>>28277740
Just push your eyes back and tell the government ching ching bing bong. They'll give you 50k

>>28277491
I just started crypto this financial year and dont plan on cashing out for like 10 years. Im i gonna have to declare and pay tax on my gains before cashing out
>hehe it seems your ADA has doubled this financial year, goy. Well be taking X% as capital gains kthx
Surely like property you dont pay until you sell

>>28277986

What platforms are you using to buy crypto?

>>28277801

It used be look hard but achievable but the last 12 months has squeezed me, im really feeling it these days. Trying to save for a deposit is fucked when wages are flat, companies are using corona to freeze pay rises, and people are buying 50k+100k over asking like its nothing. My gf and I have good careers and are in the top percentages of earners for our age but are getting btfo by people who cant string sentences together but happened to be born a few years earlier. This place is a joke.

>>28277986
You get a 50% discount on things held for a year, so instead of being stabbed you're just getting shanked.

>>28278018
Are you feeling happy yet?

>>28278018
wow dude illiterate people are doing better than you... but you are so smart! wow that is so unfair! you did everything right!

>>28278018
Take whatever you were/are saving for a deposit, now put it all into Cryptocurrency, specifically Bitcoin.

Wait 5-7 years, and you will have enough to withdraw, pay taxes, and buy a house outright.

You might just have to live with your parents for 5+ years, or find a cheap place to rent, in the mean time.

>>28278016
Started with coinspot just started using binance because they have markets for shitcoins. Open to suggestions
>>28278066
Ok so if my coin gets pumped and i sell before the dump then buy back in at the same price im gonna get btfo and will need to hold for another year?
>>28278018
Ive given up on home ownership and fuckin sick of renting. Im a mine worker staying at a hostel on my weeks off at the moment and will probably buy a $5k camper if my circumstance changes. If im ever rich enough to retire i might buy something in poopeeland

>>28278390
No because you didn't hold it for a year. If you did what you said, you would pay full tax on it but for any assets hold for a complete year (say I buy BTC Jan 1st 2020, hold until Jan 2nd 2021) it would get a tax discount.

>>28278244

I would be if renting wasnt so shit in this country, landlords never fix shit

>>28278351

Fair criticism, I did come across as a bit of a wanker in that post. I meant you have people throwing money around with outrageous levels of debt. I consider those people "dumb"

>>28278373

Im heavy into crypto and have made pretty good gains this year, which is why im angry because I've made for all intents and purposes a lot for a retail investor but it isnt shit when a house is 1m+

>>28277740
This is what happens when we have traitors in parliament. And unfortunately they do all they can to stop people from actually making any money in this country. Which in turn is half because most people here are faggots who get insanely jealous of anyone who makes money in this country and demands the government to seize half the money they made.

>>28278530
So basically if i want to cash in im gonna have to buy a stablecoin(tm) and sit on it for a year. No big deal i suppose

>stagnant wage
>zoomers completely priced out
>border closed
Are investors just buying and selling to each other?

>>28269297
I know they’re expensive as fuck.

I didn’t t mean the most expensive suburbs or biggest house.

Even still a million in capital could get you almost anything in the 1.5 mil range if you want to mortgage.

>>28268115
Bruh, put that shit into a max of 3 things. If I was you I would put most of it into DEXG right fucking now - a relatively safe 5 to 50x to get us over the line ( I have basically the same amount)

>>28265074
use AAVE

Say bitcoin crashes eventually, would it be better to sell and accumulate more btc, but pay tax as opposed to just holding it?

>>28268731
Waleed what a virtue signalling piece of shit, anon don’t pay LMi - if you do you are a moron.

>>28278717
More like demolishing houses, building garbage, and selling it to the Chinese. What could possibly go wrong?

>>28279067
It will crash as it always has but no one can tell you at what price point to make that call.

>>28279067
Never sell BTC

Its going to reach 7 figures EODecade

Do not try and time the crashes

>>28278717
Big Brother wants you dependant on them to live. No independence allowed.

>>28278717
Which is kind of funny because people still think you're a failed loser if you dont own a house.

where did yous learn about investing? i want to know exactly what im doing before i dump money something

>>28279635
by doing your own research and coming to your own conclusion on what the best investment is

personally for me i came to the conclusion that buying and holding bitcoin

>>28279635
please listen to this >>28279739

just whatever you do, don't buy ETH tokens when you're a noob. And NEVER fucking buy useless shitty meme tokens that get spammed on here. You WILL get wrecked.

The only meme coin that has ever succeeded is Doge, and it will dump when the new found hype dies out again.

Can someone give me a QRD on how the ATO treats crypto?
Do I only have to pay tax on it once cash back out into fiat? I have no intention of cashing out for at least 5-10 years since I'm a poorfag and need to build up the portfolio

>>28280204
As of right at this time

>Crypto to Fiat is a taxable event
>Crypto to Crypto is a taxable event
>Hold for less than 1 year, you pay the full CGT rate
>Hold for more 1 year, you get a 50% discount on the CGT

You need to show proof of when you obtained the Crypto you're exchanging for Fiat to get the discount, evidence from the Blockchain doesn't count, it has to be evidence such as a buy order receipt from an Exchange.

>>28280204
>>28280489
Also I forgot one thing - there's a good chance that CGT is removed from crypto by the time you start realizing gains later down the line.

>>28265074
>Buying a house in the city

I'm gonna be buying a farm on the outskirts. You pay what you would pay for an average house in the city but you get so much land and a nice house to go with it. Away from all the pollution and busyness.
Can also get my own food by buying a cow and some chickens etc.

>>28280489
Thanks anon
So should I be keeping records of transactions even as minute as $50 into moonshots?
I'd have thought just giving them your address would be enough, and they'd only go to the trouble of an audit if you were making 7 figures

>>28280526
>there's a good chance that CGT is removed from crypto by the time you start realizing gains later down the line.
How long do you think? Crypto to crypto tax when you haven't cashed out is ridiculous.

>>28280526
>there's a good chance that CGT is removed from crypto

The only reason this would happen is if they came out with a crypto specific tax. Which I'm sure would be way more brutal than CGT

>>28280706
Yeah, it really depends on how it goes.

If Bitcoin is like $1,500,000 a coin in 2031, depending on how butt hurt nocoiner normies are, you can be sure they'll probably slap some insane tax on it.

But thats worse cast scenario, Im pretty hopeful that they'll just remove CGT from crypto as a whole.

>>28280615
Yeah I'm gonna do that eventually. Australian cities are kinda boring anyway.

>>28269443
>I can't believe people actually want to live here.

Half the population is below average anon. Once you accept and understand this fact everything else falls into place. Stay strong, anon.

>>28269643
>without risk

Guys serious question about futures. I'm doing a quarterly BTC long on Binance. When this closes in June and I roll over to the next quarter control, Sep or Nov, is this a CGT event? Are future gains CGT?

>>28269533
They are, get a commonwealth supported place and you pay 5x less than a foreigner for the same course

>>28271060
Kek, boomers fear the zoom(er) filter

>>28280977
>Australian Governments
>removing taxes
el em ay oh remember how the GST was supposed to replace other taxes, not just get dumped on top of.

>>28267806
>Those faggots give chinks 50k to buy property here
Pls explain

>finally got into crypto investing
>made 200 dollarydoos

feels good

>>28281235
Well desu I dont really care about paying 15% CGT on what will be me having held BTC for 10+ years by the time I sell it.

>>28281322
Normally they have to pay massive tax on buying property but the gov is giving them a $50k tax discount to stimulate the bubble. They are still paying more than Australians, it’s bad but not as bad as the schizo is implying

>>28267806
>Those faggots give chinks 50k to buy property here...
please explain

>>28277002
yeah that guys a sooky faggot ignore him.

First time buying crypto here - as an Australian, should I avoid coinbase and instead use something like BTC Markets?

>>28282124
It doesn't matter if youre just buying Bitcoin and holding it.

You wont be keeping it on the exchange anyway.

>>28270644
Whats your trade?

Theres no white people in Australia

>>28282124
Adding on to the other guy if you plan to buy some alt coins beware most are erc-20 which means you need to pay the exorbitant fees to transfer from the exchange to your wallet.

>>28277740
Bro i feel you
>ontario

I live in Melbourne, single, and my career/life finally stabilised enough that I can look at buying my first property.
I have a 300k deposit rotting in a bank account earning no interest as I browse Melbournes garbage property market. Based on advice I've received, I am uncomfortable borrowing much more than 4x salary or having repayments more than a third of net income. Everything I can 'afford' has egregious body corp fees, and I don't want to move far out of the city.
Basically I have no idea what I'm doing as all I've ever known how to do is save. And it's making me anxious knowing that savers are being thrown under the bus by ScoMo's policies.

I missed a golden opportunity during covid to buy a cheap place, thinking things would surely crash further

>>28282301
>>28282523
Isn't the idea that I'd buy bitcoin on one of these exchanges, then transfer it to my wallet, e.g. electrum? Are the fees roughly the same no matter which exchange I use?

>>28268551
look atda toillete on dis biche

>>28282757
You need a hardware wallet for cold storage, where your seed has never been online, dont use software wallets, their seeds are online and can easily be compromised.

>>28282683
>keeping $300k in an account
Man you really fell for the home owner meme

Start investing in Crypto and you'll turn that 300k very easily into enough to buy a house outright without having to enter any mortgage.

>>28282757
The fees are based on the the number of other fags trying to trade when you are not the exchange. This means bitcoin and ethereum are expensive and worthless shitcoins trap newbies by claiming to be feeless and therefore better.

>>28282914
not if u want to pay a huge chunk of tax with the crypto

>>28283097
BTC is $300k+ by end of 2022

He can buy 5 now, and have enough to pay the CGT and buy a house in cash by the end of that.

If he waits till 2025 he'll be able to buy his house in cash, and several investment properties.

If he waits till 2030, he'll be able to buy his house, and 10 investment properties.

But he will fud out and keep it in the bank and keep grinding away to build it up and get into a mortgage.

>>28282914
>>28282986
so I shouldn't use a software wallet - and if I don't have a hardware wallet, would the bitcoin just sit in my btc markets/coinbase account?

>>28283259
in terms of security

hardware (cold) wallet > exchange > software (hot) wallet.

cold means your keys have never been exposed to the internet and were generated in an offline device

hot means your keys have been exposed to the internet and were generated in an online device

I don't have any crypto but I'm interested in starting off and getting a small amount just to test the waters and learn. What's the best crypto exchange here in Australia? One former room mate of mine who wouldn't shut up about crypto had I think coinspot but I'd like to hear other suggestions.

>>28283259
>>28283336

Oh, and with an exchange, they hold the keys, so any crypto on ur exchange account is just an IOU, so if they were ever to be insolvent, youre fucked.

Hence why you get a hardware wallet.

Ive been using a trezor one for 7-8 years now, and it still works, so Id recommend that one

>>28282914
>Man you really fell for the home owner meme
That's what was drilled into me by my boomer parents, then my career became fucked and stayed volatile for a long time
I have a managed fund with shares, but am new at investing/trading - crypto seems high risk

>>28282914

tax would fuck him

>>28283435
How would "tax fuck him"

You dont pay anything until you realize gains, and you pay 50% less tax if youve held for longer than 12 months.

Im not telling him to flip shitcoins. Im telling him to buy and hold BTC.

should I treat crypto (BTC) like my Raiz portfolio and VAS stock and just passively invest a certain % of my wage?

>>28283336
exchanges are not safer than software wallets. At least in a software wallet you control the keys and won't get mtgoxed. which is more likely than the keys/seeds being stolen out of your pc you're decent with security.

>>28283476

didn't know that
that's not too bad then.

>>28265074
>Sell everything in September
>Buy in cash
>Wait for crash
>use a cash out loan with Macquarie at 2% to ape back in
Mate I’m worth $5m+ at 35. Trust me giga brain on this. I paid $1.5m cash for my house from crypto then took a million loan in August and went back in.

>>28268474
18 months is not that long in a low security prison. If you keep a shit load of assets hidden it's worth

>>28283378
Take a look at coinbase or btc markets then judge yourself which is offering your chosen coin and if both are which has a lower price. Once you've converted your cash to crypto you can send it to Binance or other exchanges which offer shit you can't get locally.

>>28283336
cool, sounds like i don't need to bother with any wallet for the time being. So it's just a matter of picking the 'best' exchange for Aussies

>>28283378
BitConnect is a good one, start accumulating it. GET IT DOGGGGG

>>28283500
Yeah you can. DCA Bitcoin is viable strategy. Most people are priced out of buying a large amount at once now anyway.

>>28283551
>Putting a million loan into crypto
Based and future obituary pilled.

>>28283378
Swyftx is another one you can look at.

Blockchain is rising now because of the defi segment, that's why I usually check new exchanges. Not long ago, I found BAEX(#baex), did you hear about it? That's a defi binary assets exchange with Yahoo Finance quotes source

Australia's only purpose is to slave for Israel.

Australians are still convicts of soul, their religion is money, their deity is the jealous god of Israel.

Australians are sheep.

>>28281529
Western Australian govt is not the feds.

>>28283378
Market is bullish right now just go all in with what you can afford on a couple of safeish bets. You dont want to fuck around with 100s now and then go all in when its all ogre

Does anyone check the BAEX system (#baex)? I found a post about this defi binary platform, looks like it is a new gem. A lot of instruments, bonus model and profit range from 180 to 220%. It will be good with the modern algorithm. As I get, they have Yahoo Finance quotes source.

What do you think about this platform?

Is now a bad time to buy BTC? Is another dip coming or did Musk change everything?

>>28283749
ok commie

>>28269051
Yes even a NEET with no job, and double so if your getting Centrelink.
Capital gains will fuck Centrelink rightoff.

>>28283749
Speak for yourself. I for one have accepted Jesus Christ into my heart.

>>28266414
Imagine inheriting the mortgage on a shitbox in the western suburbs bought during a bubble. Generational poverty inc

>>28266102
You’re a retard.
>buy btc on legit exchange
>send to binance which needs to kyc on coin transfers
>lostmywalletinboatingaccident.jpeg
>trade and invest from initial btc
>use btc atms for day to day living
>super secret squirrel way I’m not telling to access larger amounts and gold

Is the property bubble just going to stay inflated ad infinitum?
Jobkeeper/seeker supposedly get scrapped end of March. Not sure what the go is with mortgage deferrals/holidays.
Would the RBA let interest rates go negative just to keep property from deflating?

>>28283749

Jews are based, if only we were more like them

>>28283676
It’s already tripled. It’s also not really a loan as I’ve got my house which is also appreciating secured against it. I took one asset and it made two getting the gains from both and the Jew only asks for 2.12% in return.

>>28266414
>multi-generational home loans
Jesus Christ, that's something to pass down to the kids.

>>28274859
Houses don't appreciate that fast.

What exchange do you guys use to buy crypto?
I was about to transfer my first ever BTC (like $10 out of a few grand) to my cold wallet just to test it out and I saw its like $18 for a transfer wtf.

>>28265074
Don't bother buying property, the chinks won't let you keep it after the invasion anyway, buy a tent and Howa 1500.

>>28284066
If you’ve old got a few grand you don’t need a cold wallet. You don’t even need MetaMask. If your green Swyftx is best IMO.

>>28265788
Funnel it all into crypto.com wallet and use the crypto.com visa to buy everything, crypto isn't traded in Australia and the money technically is earned in singapore (now somewhere else but still not here), the card provider is foreign too, so you pay about as much tax as a tourist .

>>28284066
Reduce the sats to reduce the transfer fee

The fee is speed based, not based on the amount you’re sending.

$1 trillion dollars in btc has the same transfer fee as $1 in btc

The $18 fee would be for a instant transfer at 200+ sats

Lower to 50 sats or less

>>28265899
Shit middle management level jobs, they don't pay enough to service the loans, the banks know it, it fucked us into the banking RC, they started doing their jobs and assessing loans, the property market crashed so the treasurer said "you know what, lend to anyone, everyone".

>>28274859
finally someone who gets it

you'd get 6% average return on a house, so 6% of 400k is 24k, you earnt 14k that year but you just need liquidity to pay LMI

>>28266102
Can't fuck you if they can't find you.

>>28284074
where should I rent in Melbourne?
I'm sick of sharing but also don't want a dogbox 1 bed apartment

>>28284290
$1m loan is usually $200k or so household income. Ok money but not great for two working goys.

>>28284390

What's your situation? Where do you work? Where do your friends/family live? What hobbies do you enjoy? Are you of a certain ethnic group?

There's a lot to consider.

>>28283865
ATO relies on people reporting their own shit, otherwise it would autofill at EOFY, they only fuck burgers who stuff their sandwiches with truffles while reporting Devon grade incomes. Don't use banks here ffs it really isn't hard these days.

>>28284219
thanks mate, but I don't think that's an option on independent reserve? nothing on the withdrawal screen

>>28284212
you'll get fucked by the ato

>>28268075
Haven't cashed out, and am an absolute poorfags. Did you do the kyc (know your customer)? I imagine the moment you cash out the ATO sees it.

>>28278683
you will pay a tax on the trade of the gains you made from coin to UDST, so you cant excape the tax. and if you made a big number unless you have the cash lying around (think 300k if you made a million) youll have to sell some of your crypto which will incur another tax because its realised gains. Its fucking absurd these crypto tax laws and they should be abolished

>>28284390
Go hang out with my Bois in Cribb point. They let you couch surf forever if you supply the piss

>>28265074
Just hold it till you don't need a mortgage at all. Getting a loan is bad juju. Not good for anyone.

>>28284552
IR withdrawal is set at 0.0003 nothing you can do about it

They’re all about 0.0002 to 0.0003 withdrawal fees on exhanges in Australia

>>28284476
The mortgage isn't supposed to make up more than 30% of all income, for a mil with 3% on the shady bank juice, it's like $58k a year so that math works over 25 years.

>>28269200
consolidare 40% link 40%eth 20% btc spit, but eventually go for an even spit, then one shitcoin you belive in. for every 100k you have split over the big 3 you can ad another 10k into a new alt

>>28284618
CZ doesn’t give a fuck but ideally don’t kyc. Although you need to cash out. Just use atms or crypto cards.

>>28284602
Lies goyim, they only go after fuckers who won't fight and I shave my junk with a straight razor, fucking fearless.

>>28283097
it's capital GAINS tax. you don't just pay tax on literally all your money you fucking moron

>>28284661
>you will pay a tax on the trade of the gains you made from coin to UDST
You should but you don’t have too. Do it on binance with no kyc.

>>28284840
This is solid advice, but fuck the banks, plenty of crypto cards out there that just associate with austrac who only care if your a million btc swinger loaded cargo containers with meth.

>>28284789
Usual rule of thumb is loan they will give is 4x household income. Used to be 5x+.
>3%
If you’re paying over 2.5% you’re a mug.

>>28283618
coinspot is pretty based

it's more user friendly than coinjar and has a whole lot more coins to buy, such as ADA, DOT and AVAX than coinjar, which i think is the biggest

on coinspot i get a nice pie chart of my portfolio, and get to place orders (like stop losses, take profits, etc)

>>28284823
>link
>in the Chad bull market
Ngmi

>>28284936
>use offshore btc card
>fake kyc
>my 82 yo dementia ridden great Auntys address
t. Senor Max Coins
*not actual name on my card but it isn’t far off

>>28268070
You are a fucking idiot.

Looking forward to buying a 300k shitbox in Melton from my delivery boy wage and crpyto gains

I've made about 80k swapping and riding the pumps between shit coins this year... now I have to pay tax on that 80k this financial year even though I haven't (and won't) cash out as I put the returns from shitcoins into BTC ETH LINK for long term holdings.

I'm going to have to sell some of the coins to FIAT just to pay this tax which in turn is another capital gain. The system sucks. Please tell me I can go on an interest free payment plan so I don't have to sell my coins

>>28265074
Okay anon but consider: you'd probably be happier in a stabalized affordable unit in your range with the money treated as a bonus money float while making your landlord earn his tendies on repairs.

>>28284840
Thanks cuzzo brudda

>>28285181
>Melton
Imagine wanting to live with Somalians.

>>28284987
sounds like an overwhelming amount of choice - hadn't even heard of coinjar. I'd heard of cointree. Really i just want something simple enough to motivate me to buy my first bitcoin.

>>28285207
This is what is stopping me from taking any risk on shitcoins, I'm missing out.

>>28285207
Don’t tell them moron. Also get on a non kyc exchange.

Thanks for baking the bread op.
Skimming through the thread, goes to show how much we have all been brainwashed - property is our religion. Crypto is our way out. I often wonder, why do you really need a milli house? Why not a little shitbox close to whatever your needs are? Looking forward to reading more threads (and hopefully, the changing mentality within it). A nice 20x would be nice to hit on, but Wagmi.

>>28270076
trying too hard to sound yobbo

>>28285469
Wait until you have a family bro.

>>28265074
nz fag here and property prices make me unironically want to kill myself.
Will probably just save 150k in boomercoin and buy a condo in thailand.
shits fubar

>>28268115
Nice portfolio anon

>>28285207
so you're essentially paying cgt tax over and over again on the same capital
that's retarded

>>28285564
Great point. I still don't get the need for a milli house though...if I can help it, I'm going to try and find some blonde shazza not in melb or syd, and just chill on the cenno lulz. Whilst keeping any crypto gains absolutely secret

>>28285469
property > literally everything else
at the end of the day crypto isnt fucking real, property is - and has been since the dawn of civilisation

>>28285807
Property is real, property value is as real as any other speculative asset.

I've been flipping shitcoins for about two months now rapidly and have next to no hope of figuring out the level of fuckery I'm in.

there really should've just been a in vs out profit percentage skimming on this shit.

>>28284987
coinspot or joinjar

they both have good apps and are australia (i think)

i know coinjar has been around for a long ass time because i used it back in 2013

>>28281529
Oh okay. Sounds like there's more to it but thanks for the explanation. What the fuck is the purpose to propping up the housing bubble anyway? Does every politician and their dog own 50 houses? They've actually done a pretty great job at doing it as much as I despise them as an average wage no-house midwit.

is metamask kyc free? Or do they share info with banks

Thanks for holding up DOGE ausbros. we are still swimming thanks to you

So binance doesn't report shit if I don't do the verify identification shit?