Have 50k in crypto - Still applying for centrelink

[Anonymous No.5482356]

Ausfag reporting in, poor as fuck 3 months ago, worked at a shitty job in a town infested with natives (im not racist but every stereotype you read about is true x10 in the northern parts of Australia especially the smell). Invested 5k 2 months ago in crypto - now worth 50k. Going back to school for 1 more year in a couple months and still going to apply for centrelink payments. Should I feel bad? they only check your bank account balances when you sign up lol.

[Anonymous No.5482380]

Nah fuck feeling bad about that shit, the goverment wants to tax you on your earnings so why not milk the system before you reach lamboland? Bonus points if you invest your welfare roobux back into crypto for government-funded gainz

[Anonymous No.5482395]

>>5482356
Fuck centerlink and fuck taxes.

Most of your tax gets donated to Telstra anyway. Scam them good for me.

This world isnt ready for crypto and we should destroy the jej while we've got the element of suprise.

[Anonymous No.5482414]

dole bludger general

[Anonymous No.5482421]

Dont feel bad, because youre not the only one doing this.

Me and my entire group of friends dothis, and we have in crypto much more than what you have. You think im going to give up cenno and let this government cuck me for refugees? Lol

[Anonymous No.5482423]

>>5482356
>Should I feel bad?

[Anonymous No.5482431]

>>5482356
Kiwi here. I overdrew my student loan to buy 2k of BTC in 2016

Now i have no student debt, a house deposit, a new bmw and still 5 BTC

Do it

[Anonymous No.5482479]

>>5482431
taxes?

[Anonymous No.5482517]

>>5482356
Taxpayer here, go for it. Happy to have centrelink monies in the pockets of coiners rather than immigrants that come here, shit out seven kids and can't even be fucked to learn English.

[Anonymous No.5482529]

>>5482479

About 14.2k after i withdrew 110 k (NZD) . accountant sorted it out, we dont have capital gains here so was negotiated with IRD as a sales tax.

[Anonymous No.5482542]

Australia is a socialist shithole.

[Anonymous No.5482578]

>>5482529
Is that true? no capital gains in NZ? I'm a NZ citizen and Australian citizen, would love to get out of this without paying tax.

[Anonymous No.5482579]

>>5482529
nice, glad you won't be getting fucked.

[Anonymous No.5482586]

>>5482431
2k usd in 2006. 380-450 usd for each btc. = max 5.2 btc. Nice larp tho

[Anonymous No.5482599]

>>5482578
>>5482578
I'm a 'seppo' and a bit jealous of your situation; you can milk your govbux for all you wish (funnel into crypto) then finish your affairs in AUS and move to NZ to cash out

[Anonymous No.5482602]

>>5482586
or 2000 btc for 0.8 mil. anyyway nice larp

[Anonymous No.5482613]

>>5482529
>this

You realise you have automatic residency in NZ by holding an Australian passport right?

Go to fucking NZ and cash out, enjoy the mountains. In fact, stay there, Australia is fucking shit, take a look on the news, drunk bogan idiots fighting on the beach on Christmas... WTF

[Anonymous No.5482620]

Same here bro, except I get the benefit from WINZ.

Pretty comfy desu, worth about 120k, started with 3k back in March, would of had more if I didn't gamble and spend so much profit.

Never have to work a day in my life.

[Anonymous No.5482625]

>>5482578
Yup , no capital gain then, and IRD have no idea what crypto is.
There will be capital gains will be coming thanks to our commie bitch PM tho>

>>5482586

470 nzd In JANUARY , read a chart. I also cashed out all BCash , BGold and gradually bought more during the year.

[Anonymous No.5482633]

>>5482529
Who is your accountant/what firm do they work for? I'd be interested in contacting them over this.

[Anonymous No.5482639]

>>5482613
Get in before april before tax changes.

[Anonymous No.5482651]

>>5482529
>still had to pay 14.2k tax
fucking theft, what the shit

[Anonymous No.5482676]

>>5482356

No, you mustn't feel bad. Take back your taxes from the government. They've literally stolen them from you in the first place.

[Anonymous No.5482679]

>>5482633
Asked an accountant at BNZ. They seem to be informed on crypto since the boom

[Anonymous No.5482695]

>>5482651
Better than the 40+k id have to pay in the USA

[Anonymous No.5482932]

>>5482356
You should proactively profiteer off this shitty faggy country as much as possible. Consider it a form of asymmetrical NEET warfare.

[Anonymous No.5483203]

>>5482932
>asymmetrical NEET warfare

[Anonymous No.5483308]

>>5482356
>Should I feel bad?
Wait till you cash out and the taxman is on your ass.
Suck on the big milkies of mommy government as much as you can because you will pay for it weather you do it or not.

[Anonymous No.5483441]

fuck that, got $150k in crypto and still get centrelink money coming in lmao

[Anonymous No.5483588]

based bludgers

[Anonymous No.5483794]

What is the current tax situation in Aus for crypto?

[Anonymous No.5483817]

>>5482356
>im not racist
t. nigger

[Anonymous No.5483850]

Please aware me on how you did this, OP

[Anonymous No.5483878]

>>5482356
Use the cunts for everything you can because when you start earning money they take it all away. Im paying roughly 50k-60k tax a year.

But serious get a job cunt and stop mooching of my tax dollars.

[Anonymous No.5483934]

>>5483794
pretty much multiply your pay check before tax by .71 and you get your pay for the week. so 30%.

[Anonymous No.5484024]

>>5482679

Can you just walk into any BNZ and ask for an accountant? I'm from hamilton btw.

Fucking TSB wouldnt even open me a savings account when I told them I was in crypto. Cucks.

[Anonymous No.5484090]

Set up a PTY LTD. Cash out to the business, loan yourself the cash on a 7 year loan under a division 7a loan (you will have to pay your Pty Ltd interest, it’s your money though, you can just ponzi loans to yourself as you go to pay the interest though). Feel free to pay yourself a wage up to your Centrelink income threshold (if there is one, I don’t know much about welfare) and the tax free threshold.

Company pays your phone, etc change you ppor to be interstate and pay yourself travel alllowances tax free. If you can’t get the cash out of the business pay the 28.5% tax rate and down the track withdraw as a franked dividend and claim the input tax credits.

Definitely a significant amount of paperwork though. Also, confirm the thresholds before paying an actual wage or you will lose your Centrelink.

Not an accountant, if you get raped for tax evasion it’s not my fault. I come up with the schemes, I don’t know if they are legal or not, definitely grey area...

[Anonymous No.5484128]

>>5484024
Never tell your bank about crypto lol
I need help getting my swift sorted and they asked what for.
I just said "trading sites"

[Anonymous No.5484182]

What did you drop 5k into for the 50k o.o?

[Anonymous No.5484459]

>>5482356
You can make much more with ACs premium calls, usually priced at 1k/month discord.gg/CmteP8j

[Anonymous No.5484481]

>>5482356
the government is an anti white hate group so no dont feel bad. and stop apologizing for le racism.

[Anonymous No.5484860]

>>5482356
its either you or some family from some shit hole country that will never ever even become australia citizens and work for cash in hand at some low paying low skill high labour job like cleaning or bricklaying that some jew will take advantage of and employ them and

ah fuck it

[Anonymous No.5484884]

I'm not paying that much dipshit. Is there any way to get the signals for free?

[Anonymous No.5484982]

You'll pay more back in the long run if you're not dependent on cashing out a bit every month to live now. You can also get rich enough to support yourself with dividends and even be generous with charity. You're doing what's best for both you and your country. Just don't lose it on shitcoin.

[Anonymous No.5485113]

Ausfag here that has been investing ever single dollar of my $540 fornitely Centrelink payments into crypto for the past 6 months

Don’t feel bad about it at all