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/biz/ - Business & Finance

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6105424 No.6105424 [Reply] [Original]

Just realized that my country kills my gains. I'm daytrading and not keeping track of anything. My gov will fucking jail me when I ever cash out. Almost 1 million and will absolutely surpass the first million VERY soon. I can keep like half of that. Fucking bullshit man. Any of you cashed out? I realize there are many ways to not put crypto money on your bank account and make it invisible this way but that also means you can't use your big gains like buying a car, a house, whatever. Like buying a house in cash is prolly not gonna work out huh.

Anyone here cashed out? Where do you live and how much did you have to pay in tax?

>> No.6105502

cashed out $350
live in canada
didsnt pay tax

>> No.6105551

>>6105424
DONT REPLY TO THIS POST, ITS A HONEYPOT FOR TAXMAN

>> No.6105663
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6105663

>>6105502
where I live I can cash out 600€ without tax but everything above I need to tax on every profit I make

>>6105551
you got me

>> No.6105788

>>6105424
Are you an ausfag or a burger?
Aus fag here just hit 1k, I havnt slept in a week and alienated everyone around me researching the market,browsing biz, watching graphs and how they behave
Then learned about tax
You can't just leave the country because the gains was made here
Can't cash out more then 10k so no lambo
Gov will take half of what ever I make and want every detail of every trade including what brand of coffee I was drinking while making that trade

Is this still even worth it?

>> No.6105818

>>6105424
TenX card
You don't ever need to cash out, just use it as a debit card

>> No.6105848

>>6105788
Post correction
Can't cash out more then 10k without taxman being alerted

>> No.6105865

>>6105788
german dude
Honestly, I will throw in some more fiat and just hold it for 12 months at least now. Then it's tax free here. Don't know what imma do with the almost Million euro in crypto I got so far honestly

>> No.6105870

>>6105818
Visa killed em all.

>> No.6105932

>>6105818
Good idea, however same problem as with the buying and selling gold one.. I can't buy a Tesla with the tenx card without raising suspicion man