/Biz/ Australia: Straya Day is coming

[Anonymous No.6625125]

Talk about Aus Stocks, Real Estate, Business and Crypto related to Australia.

[Anonymous No.6625342]

RAP is making a comeback, look into it boys.

[Anonymous No.6625944]

>>6625125
Sidney? What a pathetic little downtown.
t. New Yorker

[Anonymous No.6626469]

>>6625944
oi m8 sydney is fucking great, better then melbourne, but want to visit new york at some point

[Anonymous No.6626627]

Opinions on OGX?

[Anonymous No.6626633]

>>6625125

1. Buy shitbox double red brick in eastern suburbs 2 suburbs away from the beach for $2.3m. 600m2 land.
2. ???
3. Profit.

[Anonymous No.6626680]

So are we paying tax on crypto to crypto transactions or what boys

[Anonymous No.6626689]

>>6626469
Just taking the piss out of you mate. Come whenever. But be careful. You know, the crime rate being what it is and all.

[Anonymous No.6626694]

>>6625125
Real estate strategy no.2

Buy new shitbox non-strata freehold in Camden Valley Way area (beyond Leppington station).

$500k.
Wait 2 years.
Profit.

[Anonymous No.6626735]

>>6626680
If the transaction was done on Binance how would Austrac and ATO know?

[Anonymous No.6626821]

>>6625125
>Real Estate
Banks are granting new loans to investors by allowing them to use "unrealised capital gains" on their existing properties as a deposit. So a 24yr old train driver earning 55k a year can be leveraged into the millions to buy investment properties.
That's like the equivalent of margin trading on over 20x leverage, but for the fucking property market. You know what happens when a trade that heavily leveraged goes backwards? Yeah, that's the Australian housing market.

House loans using UNREALISED capital gains as deposits. Let that sink in.

[Anonymous No.6626874]

>>6626680
It's treated as an asset like commodity and subject to CGT. I think the ATO only cares about the trade from fiat to crypto back to fiat. Don't think they give a shit about the trades in between.

Unless it's your only source of income, then it gets messy.

[Anonymous No.6626896]

>>6626874

if you withdraw your initial investment thats just a wash right, no need to report anything

[Anonymous No.6626906]

>>6626735
My thoughts are that they will not have the resources to audit crypto records for a few more years.

They will make examples out of tax evaders and claim they can track your cryptos, but they know it is a losing battle so as long as you report your cash out gains with supporting evidence they will be happy to take it.

[Anonymous No.6627034]

>>6626821
can you explain this a little more to a sub 80 iq brainlet? so, my parents who bought a house at 200k, and its now 'worth'(unrealised) 500k, can use that 300k difference as a deposit? is that it?

how long has this been going on?

[Anonymous No.6627101]

>>6626821

i read some random article awhile ago that said CTG doesnt apply to real estate anymore in 2018 to combat housing shortage. is that true?

[Anonymous No.6627146]

>>6626896
No, you're selling an asset. You report what you sold.
You buy 1 BTC for $1000 and it increases $2000. You then decide to cash out your initial investment of $1000, you have to sell 0.5BTC. That 0.5BTC cost $500 so you made $500 profit by selling it for $1000. you're paying CGT on that $500 profit

You're not withdrawing cash. You're selling an asset of the equivalent amount of your initial investment.There's still 0.5btc there waiting to be sold.

[Anonymous No.6627148]

>>6627034

You use it as collateral for a loan

[Anonymous No.6627181]

Buy some POWR before western power partener with them. Heard this from a guy who works there

[Anonymous No.6627218]

>>6627146

[Anonymous No.6627232]

>>6627034

this has been going on for ages. Australian laws are tailored to benefit investors.

You can hedge your new unrealised gain to loan another 200-250k ( loan amount should always be equal or lower than the equity/cash that you currently have.

[Anonymous No.6627245]

>>6626689
Yeah, I intend on visit Trump Tower and staying at his hotel near Central Park

>>6626680
Sadly we fucking have to, not having the gov fuck my ass. Make a trust and use it to lower tax going forward

[Anonymous No.6627271]

>>6627034

It's been going on since Alan Greenspan say "unlock your equity". Don't listen to that dumbass anon, he just added in the "unrealised capital gains".

But as dumb as he is, real estate prices are astronomically high right now so I wouldn't buy beyond your means.

Look at Perth. I knew nurses who were leveraged up to their eyeballs, fucking 4-5 houses. If LVR drops the banks are going to liquidate.

[Anonymous No.6627293]

anyone else autistic about city skylines? this is the first time I've seen downtown Sydney. It looks comfy. What's that visible street on the right side called?

You're alright, Australia.

[Anonymous No.6627299]

>put off buying Auscann at 70c
>the next day it's $1
>then $1.25
>then $1.70

Fuck. Major dip soon pls.

[Anonymous No.6627311]

>>6627101
CGT has never applied to your principal place of residence (prove you live there for 1+ year). I highly doubt they removed CGT from investment properties. They may have lowered the rate to only apply to 50% of the gains regardless of how long you've held it for. That sounds more likely.

>>6627034
No, it's worse than that. Much much worse.
Say your parents by an investment property for $200k. Now they want to buy another one, but they have no money for a deposit and the first house is still only worth $200k.

No problem! Say the banks. We THINK your current investment property MIGHT be worth $250k next year. So we'll let you use the POSSIBLE $50k in equity as a deposit for another loan. Because house prices only ever go up right?

Now do that again and again and again for each investor.

[Anonymous No.6627336]

>>6626680
>paying tax
>ever
No thanks, I'm not supporting abos and bogans to drink VB and smoke durries.

[Anonymous No.6627370]

>>6627336

How the fark am I gon get me smokes?

[Anonymous No.6627376]

>>6625125
int student here. anybody ever did a 3+ month cherry picking contract?

[Anonymous No.6627403]

>>6627271
No asshole, they've cranked it up another notch and you missed the key points.

Yes you have always been able to borrow money against the EXISTING equity in your home. Now you can borrow against the POSSIBLE future equity it might maybe have if house prices go up at the median rate in the future.

You have to be able to discern between:
1) Equity that exists as a result of house prices at todays rate
1) Equity that may exists IF prices continue to rise

IF

[Anonymous No.6627418]

>>6627218

Just use living room of satoshi to pay bills and bank the cash you would otherwise use. Purchases using crypto are tax free

[Anonymous No.6627435]

>>6627376

It's back breaking hard work, but cool for short term I guess.

[Anonymous No.6627448]

>>6627293

It's Elizabeth St and the park is Hyde Park

[Anonymous No.6627463]

>>6627293
Elizabeth St

[Anonymous No.6627464]

>>6627418

Can I pay for my crypto purchases with crypto?

[Anonymous No.6627474]

>>6627403

Fuck me, you are saying they are writing loans based on future projections? When the fuck did this happen?

[Anonymous No.6627501]

>>6627232
If:

A) your loan is equal to or lower than the amount of cash you're putting in (equity equals to loan amount)
B) your property grows at an average of 7% per year
C) your rental income is at an average of 4% per year

then:

1) your rental income should be able to cover for your loan interest and STILL generate some cash.
2) you can choose to hedge your unrealised gain as collateral and loan more money for lifestyle expenses or future investments
3) even if you choose to hedge and loan more money, your total equity /unrealised gains will still grow faster than the loan interest, lowering your Loan to Value Ratio (but if course, for this all to work condition A B and C has to be met or it all tumbles down)

[Anonymous No.6627506]

>>6627376

You will find a hard time finding a cherry in our sheilas achmed.

[Anonymous No.6627560]

>>6627474

holy shit this is literally another 2008

[Anonymous No.6627590]

>>6627474
Exactly. If house prices start to fall, all those "future capital gains" evaporate and those investors get the equivalent of margin call. But for wider Australian property market. That's why the housing bubble has yet to pop. Never under estimate how greedy, short-sighted and stupid the banks are. This is like the hail mary of Australian banks to keep the house market propped up in Sydney, Melb and Brisbane

How long? Don't know. I only found out about it in the last few months or so.

[Anonymous No.6627593]

>>6626680
legally yes
>>6626735
if you cashed into crypto anonymously / via cash then they will not
>>6626874
this is wrong

[Anonymous No.6627606]

Living in SA
Any way other than crypto for a poorfag to make money?

[Anonymous No.6627630]

>>6627464

I guess, but unless you were buying crypto with fiat, you're using crypto to buy (trade) crypto anyways. If only they had some sort of website that you could "exchange" various cryptos for another crypto they are "paired" with.

Unless you were talking about cryptomaniac purchases, then aslong as you can buy a corpse using Bpay then yes.

[Anonymous No.6627641]

>>6627590

Can you point me to these products? My brother is buying another place and I was wondering how the hell can he get a loan this early.

[Anonymous No.6627650]

>>6627435
i asked around some backpackers and they said it depends on the plant and farm owner (you have to bend over all day for eggplants and potatoes). Need to make money to put into crypto

[Anonymous No.6627662]

>>6627593

>this is wrong
Come on dickhead, citation required. Show me where the Australian tax Office explicitly states every crypto trade is a taxable event.

[Anonymous No.6627666]

>>6627590

What will cause the prices to start falling? Less influx of chinese investors/students?

[Anonymous No.6627685]

>>6627630

Specifically what I meant is if I buy crypto with credit card on coinbase then use Living Room of Satoshi to pay the credit card bill

[Anonymous No.6627719]

FUCK SYDNEY, FUCK QUEENSLAND BUNCH OF FAGGOTS WITH YOUR SHIT FAGGOT FOOTY. AFL IS WHERE IT'S AT!

[Anonymous No.6627721]

>>6627506
hahahahahahaahha

[Anonymous No.6627758]

>>6627474
>based on future projections?
Jesus fuck, we're fucked. Actually, not really, have a lot of money saved up, and a lot from Crypto, going to buy the housing market dip.

[Anonymous No.6627770]

>>6627662
15. The disposal of bitcoin to a third party gives rise to CGT event A1 under subsection 104-10(1). A taxpayer will make a capital gain from CGT event A1 if the capital proceeds from the disposal of the bitcoin are more than the bitcoin's cost base. The capital proceeds from the disposal of the bitcoin are, in accordance with subsection 116-20(1), the money or the market value of any other property received (or entitled to be received) by the taxpayer in respect of the disposal. The money paid or the market value of any other property the taxpayer gave in respect of acquiring the bitcoin will be included in the cost base of the bitcoin in accordance with subsection 110-25(2).

[Anonymous No.6627773]

>>6627719
lol

[Anonymous No.6627838]

If you're smart you've already pulled all your money out of anything Aussie related. My super, for example, is 100% overseas shares/financial products and it has done very well compared to my mates who left theirs with the default allocation.

The ASX has basically trended sideways for a decade and companies would rather shit out dividends than reinvest in the economy/expand. The taxation laws just add fuel to this.

With the mining industry no longer building infrastructure, the whole economy pivots on this retarded real estate bubble and all the ticket clipping (accountants, RE agents, property guru's, the media, ect) that goes along with it. This is why the government, even when facing cataclysmic polling, STILL will not reduce immigration. It keeps a floor under housing/rents.

If you want to make money off Australia, then with a well timed short on the big four banks you could make a killing. But for long term investing? Avoid Australia.

>ps buy funfair

[Anonymous No.6627843]

>>6627758

I don't know I don't have time to look up loans right now so I still don't believe this 100%.

Note: This happens alot in the commercial space, but I am talking property developers etc. Not for your average blokes residential investment properties.

However, even in the commercial space the collateral still exists and usually not leveraged as high.

[Anonymous No.6627902]

>>6627685

You can pay credit cards with lros. I dont think that's taxable, but don't quote me on that

[Anonymous No.6627903]

>>6627666

People unable to service their existing mortgages start to sell due to stagnant wages (already happening), loss of work (happening) and general economic downturn.

Perth is about to experience it's 3rd consecutive year of decreasing house prices for the first time ever. Only time in WA recorded history have house prices fallen 2 years in a row was the 87 recession. This year could be the first time ever WA sees house prices fall 3 years in a row unless something drastic turns the market around.

But I highly doubt it. Our market is in trouble. We have a huge influx of workers coming back from Wheatstone and Barrow Island and Onslo construction slowing up. They're coming back to a market that doesn't have jobs for them and are loaded with debt they can't service.

[Anonymous No.6627907]

>>6627838
>tfw government super and get 15.5%

[Anonymous No.6627945]

>>6627903
we also have the chinks bailing out which was always going to happen, and rate hikes ahead

[Anonymous No.6627968]

>>6627838
>My super, for example, is 100% overseas shares/financial products

how do you do this? i thought you were not allowed

[Anonymous No.6627990]

>>6627758
not only that, chinese money are coming in like insane. 60% of new melbourne building are not only financed by chinese but will also be bought by chinese (foreigners cant buy property not off the plan, so newer buildings are always filled with more chinks). Student housing is everywhere. i saw a chinese shop once in chinatown that sells business (supermarkets, showrooms, new, petrol stations, construction projects) RETAIL, like its fucking chump change to them

[Anonymous No.6628013]

>>6627770
Note that doesn't specify crypto, it refers to "property" and I believe its referring to buying other goods with Crypto. Gold, silver, white goods, land, car etc.

[Anonymous No.6628020]

I want a root off a hotty for Australia day

[Anonymous No.6628021]

>>6627903

how fucked are we if the entire economy depends on mining and property? Something doesnt add up has it always been like this?

[Anonymous No.6628032]

>>6627838
You've made a powerful enemy today, sign.

[Anonymous No.6628055]

>>6628021

We used to have manufacturing. Not in my life time though. Agriculture and water might be the next boom

[Anonymous No.6628097]

How would a Canadian do in australia culture wise? Thinking about moving somewhere refreshing but not too different

[Anonymous No.6628103]

>>6627990

is this a good thing or a bad thing?Wouldnt australian economy tank right after the mining boom if there hadn't been any overseas investments?

[Anonymous No.6628125]

>>6625342
like tone loc?

[Anonymous No.6628136]

>>6627146
You don't pay CGT on assets under $10,000 as far as I know...?

[Anonymous No.6628139]

where do you buy crypto in aus? Dont want to go to the fucking newsagency to get crypto.
"sir can i pay 500 dollars in cash for crypto"

[Anonymous No.6628166]

>>6628103
its economically good yet socially bad. try coming to melbourne cbd and you'll see what i mean

[Anonymous No.6628169]

>>6628139

coinbase $300 a week or bitcoinmarket or localbitcoins

[Anonymous No.6628174]

>>6627968

It depends on your superannuate, but you are able to specify where your super is invested.

You can't invest directly unless you have a self managed super fund but you need 200k to open one of them IIRC.

[Anonymous No.6628189]

>>6628097
Probably not too gr8 desu m8

[Anonymous No.6628194]

>>6628021

No, it hasn't always been like this. Like everything there used to be a lot of local manufacturing. Australian buying Australian cars built by Australians with Australian materials.

Long story short. Resource boom, everyone got greedy, parabolic growth will be met with an equally drastic correction. No different from crypto or any other market. The only difference is it will dragged out over a decade, not 2 weeks

[Anonymous No.6628210]

>>6628166

Dude if the chinks weren't in the CBD the CBD would be like all olther CBDs in in Australia after 5pm.

ANd the chinks you see in the CBD are mainly because of RMIT.

[Anonymous No.6628244]

>>6626680
bought into eth via fiat deposit to Ind Res
marked the tx as long term investment on quickbooks
will only ever use IR again to cash out eth
will declare capital gains
sleep well at night anons

[Anonymous No.6628255]

>>6628139
>>6628169

Coinjar is better. They just added support for ETH, LTC and XRP as well

[Anonymous No.6628268]

>>6628189
its nice how cool its been on the east coast these past week

[Anonymous No.6628270]

>>6628189
i fucked a girl from nz once,we got along. I think you are just saying that

[Anonymous No.6628280]

>>6628013
That's defined at the start of the doc

Ruling

1. Yes. Bitcoin is a 'CGT asset' for the purposes of subsection 108-5(1) of the Income Tax Assessment Act 1997 (ITAA 1997).[1]

12. In weighing all these factors it is considered that Bitcoin holding rights amount to property within the meaning of paragraph 108-5(1)(a). As such, a person holding a bitcoin is considered to hold a 'CGT asset' for the purposes of that provision.

And although it says Bitcoin it is also explicitly stated that this applies to all crypto

[Anonymous No.6628283]

>>6628166

yes same is happening with brisbane and tasmania. I think the future australia wont be white dominated much longer. It's essentially merging with china now

[Anonymous No.6628297]

>>6625125
I live in that building next to townhall called Lumiere

[Anonymous No.6628308]

>>6628169
>actually suggesting Coinbase

God, I fucking hate normies. I can’t even speak to my fellow Australians about crypto because they’re all normies.

Coinbase has 4% fees and a tiny ass buy limit because they’re fucking kikes. All in all a terrible place to buy. I use BTC Markets and then just withdraw to buy alts.

[Anonymous No.6628319]

>>6626821
DOTR for ALL BOOMERS WHEN?!?!??!?!?!

[Anonymous No.6628333]

>>6628283

Stop fudding the australian lifestyle dumbass. There is no way its won't be a major white population in the next 100 years

[Anonymous No.6628335]

what you goys need to be doing is this

You need to keep the following records for bitcoin transactions:

the date of the transactions
the amount in Australian dollars (which can be taken from a reputable online exchange)
what the transaction was for
who the other party was (even if it’s just their bitcoin address).


do this first then work out how you want to handle the situation, speak to an accountant asap if you have big holdings. if you want to evade make sure you know what you doing / have the infrastructure in place to do properly

[Anonymous No.6628336]

Tax

Not my favourite topic to discuss with you all by a long shot, but it's something we all have to face head on roll around to 1st of July.

I was lucky enough to be apart of a call the other day with a well experienced accountant whom also trades in the crypto space and has been able to decipher the ATO's regulations as best as possible into the english language.

Let's me start off with telling you the first thing we should have all done before purchasing Bitcoin (Cryptocurrency), which is setting up a 'Company Trust' to pay ourselves through especially if you are a trader and not just an Investor. This has the best angle at reducing the amount of fiat you owe to the ATO.

Define what type of position you have in the space.
- Trader (Should set up Company Trust)
- Investor (Subject to C.G.T - Capital Gains Tax)

You can be both but the best way to know what category you fit into is by wether or not you play in ALT's or just sit long term in Large Market Caps (BTC / ETH / XMR / LTC / etc).

Setting up a company trust maybe expensive in the beginning but it will save you enormous amounts of money in the future when it comes tax time if you have done very well for yourself!

Okay straight into it...

You should be keeping track of every single trade you make, you can do this with good exchange order books and systems like blockfolio to take to your Tax Agent come tax time... The government will penalise you to the fullest if you can not keep records of your trades even if what you are saying is honest and true they will rob you... hey it's tax it's wrong but they hold the guns!

- Do I pay Tax on the Initial Capital?

No... this money would have already been taxed and come from your savings, if earned this year you will pay income/business tax on your capital.

- Do I have to pay TAX if I haven't cashed out into AUD including on-shore exchanges?

Comment was too long, join DigitalCrayons group on FB to see the rest.

[Anonymous No.6628341]

>>6625125
>Aus Stocks,
Stocks are for faggots. Crypto is wealth for the people
>Real Estate,
Massive bubble, especially in Sydney. Hope it pops too like Deutsche Bank warned
https://www.usatoday.com/story/money/2017/12/08/bitcoin-crash-among-2018-worries-financial-markets-deutsche-bank-warns/934364001/
>Business
By Business do you mean the chinks buying everything valuable?
Or all the jobs and industry going overseas?
>Crypto in Aus
Im sure the faggot government is against it. Fuck those US Jew lackies. we dont need them. they cant stop us.

[Anonymous No.6628356]

>>6628166

if this continues will we get fucked in the long term?

[Anonymous No.6628368]

>>6628308

>doesn't read market premiums

[Anonymous No.6628376]

>>6628336
>You should be keeping track of every single trade you make, you can do this with good exchange order books and systems like blockfolio to take to your Tax Agent come tax time... The government will penalise you to the fullest if you can not keep records of your trades even if what you are saying is honest and true they will rob you... hey it's tax it's wrong but they hold the guns!

this.

[Anonymous No.6628381]

>worrying about CGT
>thinking you can cash out

[Anonymous No.6628396]

>>6626680
what faggot would be dumb enough to declear that? at the very least wash it through monero before cashing out, then no trace of prior transactions ;)

[Anonymous No.6628417]

>>6627403
what the fuck are you sure anon? any sources

its game over when this bubble pops

[Anonymous No.6628450]

Also
>all the absolute cuckolds ITT talking about paying tax
Yeah, go ahead. Hopefully a gang of Africans stabs you to death for being such faggots.

[Anonymous No.6628487]

>>6627271
>I knew nurses
you filthy degenerate

>>6627403
>asshole
get out of here mutt

[Anonymous No.6628500]

>>6628376
>>6628336

That's literally 10s of 1000s of trades. I have 500 pages of trades on Polo alone, 100s of trades per page.
Can i get away with just BTC bought, BTC sold? If that's how I enter and exit the market?

[Anonymous No.6628510]

>>6625125
Change the date dawg

[Anonymous No.6628541]

>>6628139
Btcmarkets is spot on

[Anonymous No.6628580]

>>6628021

The Auto industry was the 3rd biggest industry for the economy, international students are also up there.

[Anonymous No.6628618]

>>6628450
BASED Anon
But here we call them Abbos

[Anonymous No.6628631]

>>6628139

Independent Reserve. Much lower tx fees than other aussie exchanges.

[Anonymous No.6628662]

Australia day AKA VB and pingers day

[Anonymous No.6628671]

>>6625125
AVZ stocks are up. It's a Lithium mine, scarce resource, chinks love it. hodl till chinks purchase the mine

[Anonymous No.6628672]

>>6628166

37% of Melbourne CBDs residents are Chinese.

[Anonymous No.6628687]

>>6628618
I live in Melbourne so I see more Africans than Aboriginals. Footscray is basically a part of Africa, now. Paying tax is about as unaustralian as it gets. I’m not surprised that you soy milk loving fucks can’t stop talking about it.

[Anonymous No.6628701]

>>6628510
Fucking kys

[Anonymous No.6628709]

>>6628097
Youd be fine. All commonwealth citizens are just culturally relevant for some reason.. Its hard to explain.

>>6628336
>You should be keeping track of every single trade you make, you can do this with good exchange order books and systems like blockfolio to take to your Tax Agent come tax time
So if I just export all my trading history and send it to an accountant, its sweet? I dont have to go through it all myself?

[Anonymous No.6628745]

>>6628541
This, located in melb too

[Anonymous No.6628750]

>>6628687

That's cause they have actual money. Even if you monero your coins how the fuck are you going to turn it to FIAT?

"Oh i'll just run off to a tax haven cause i am so based with my billions of crypto. I juist need to wati for TRX to moon"

[Anonymous No.6628756]

>>6628687
>muh niggers
>lives in melbourne
your problem not ours

[Anonymous No.6628792]

>>6628618

No we don't faggot.

[Anonymous No.6628853]

>>6628750
>That's cause they have actual money

If they had “actual money” then they’d figure out how to keep it, you fucking brainlet. Why do you laugh at the fleeing to a tax haven idea? Australians love to complain about Asians but without them, the average IQ would be half of what it is now. Look how stupid you fucks are to just accept taxes.

[Anonymous No.6628854]

>>6625944
At least we are not full of niggers and crime.

[Anonymous No.6628869]

You're all a bunch of shitposting, gun control loving, pieces of shit and I can't stand you. Sage.

[Anonymous No.6628878]

>>6628097
Yeah Canadians fit right in.
Fuck you have some sexy women too.
Bring them.

[Anonymous No.6628899]

Tax question here.

Gambling winnings are not taxable in Aus. Couldnt I just say I won my bitcoin by gambling on some onlin poker sites or some shit?

How the fuck would the ATO be able to prove where your btc came from?

[Anonymous No.6628901]

>>6628853

Spoken like a poor cunt, oh hey coles have hot chicken on sale why don't you grab a couple.

[Anonymous No.6628934]

>>6627376
Have picked cherries. Pretty easy work physically compared to other fruits from what I've heard. Make sure you're getting an hourly wage instead of per kg or whatever. I knew some people that hated it but I and others enjoyed it. Something nice about getting up at sunrise each morning, having breakfast then putting in earphones and picking cherries to music/podcasts all day.

[Anonymous No.6628980]

>>6628792
you must live in a refugees city that actually has Africans
>lucky you
none in most cities
just drunk abbos

[Anonymous No.6629024]

>>6628899
>dub single dub dub
nice
from the eastern suburbs of Sydney btw

[Anonymous No.6629025]

>>6628901
Are you trying to insult me by saying I visit Coles, which is a fucking supermarket? I wish we had flags so I could ignore all posts by Australians. I really hate the people of this country.

[Anonymous No.6629057]

>>6629025

Lol go to your tax haven then, pro tip: You need a passport, your proof of age card won't work.

[Anonymous No.6629098]

>>6628899
cash out in person
if its a lot, maybe pay for a security guard
spend next week or so playing in casino
I imagine that could work
Or cash out overseas
setup overseas corporation (panama maybe)
corporation buys asset in Australia
doesnt pay shit to aus gov
Or trade asset directly for BTC

just dont give half your earnings away like a foggot

[Anonymous No.6629111]

>>6629057
I will absolutely flee to a tax haven if the government try to take a cent from me, brainlet. There is nothing I will miss of Australia. I’ll probably see less Chinese if I go to Hong Kong.

[Anonymous No.6629169]

>>6629098
Further more, if your not in Aus for a year, you pay no tax for that year.

So just go live in a tax free country for a year, cash out there, then come back after a year has past. done. not taxable

[Anonymous No.6629179]

>>6628901
Fuck do they? Coles chickens are good value man I love those things

[Anonymous No.6629181]

>>6629111

guvment can't take shit from you if you don't earn shit.

[Anonymous No.6629310]

>>6628980

Lol, no, that's a western melbourne problem. We have neither Africans or Abbos. Regardless, nobody calls Africans abbos you giggling cumdumpster

[Anonymous No.6629333]

>>6628901
woolies chickens are BETTER!!

[Anonymous No.6629344]

>>6629169

You can't bring more than 10k back into the country.

[Anonymous No.6629346]

>>6628450
literally what is wrong with paying tax

[Anonymous No.6629420]

>>6629346

It's a problem poor people have, these are the same type of people earning below average salary because "working more just means I get taxed more therefore no point in working".

[Anonymous No.6629464]

>>6629310
god your dumb.
I meant our black people are called abbos.
We dont really have Africans do we (particularly before this refugee shit)

[Anonymous No.6629523]

>>6629344
You can, you just have to declare it. Just wire transfer it. But come tax time it wont be included if it was earning from the financial year you were not in Aus.

Example you work in dubai for a year. earn 100k, come back to aus with your 100k tax free.

Thats my understanding. Check with a tax fag.

[Anonymous No.6629571]

>>6629523

Tax fag here, just be careful about the 181 day rule, that's just one factor for determining if you are resident or not.

Any anons that are serious, look it up. If you are jumping from country to country every 60-90 days on tourist visas, they can still find taht you are a resident of Australia.

[Anonymous No.6629648]

>>6629571
So let's say I move to Hong Kong for a year and cash out would I be able to wire it back over the next financial year tax free

[Anonymous No.6629692]

>>6629571
>If you are jumping from country to country every 60-90 days on tourist visas, they can still find taht you are a resident of Australia.

cheers for the heads up.
fucking ridiculous tho
>Literally not in Australia, but we will treat you like you are just cos your changing countries.

[Anonymous No.6629783]

>>6629648
>So let's say I move to Hong Kong for a year and cash out would I be able to wire it back over the next financial year tax free

If you are coming back to Australia you would have to declare you bought and sold whilst you are in Hong Kong.

This means (if asked) you would have to provide evidence of this, which includes paying taxes in Hong Kong.

I am not in the evasion game so I don't know all the angles.

[Anonymous No.6629830]

>>6629692

It works both ways sometimes. If you are a tax resident you get all the benefits such as tax-free threshold etc. There are people who have been here for over 181 days, but because they don't have things like a residential property / rental property etc they are not considered residents and taxed at highest tax bracket.

[Anonymous No.6629957]

Pay your taxes goy

[Anonymous No.6630016]

>>6629464
what do you mean we don't really have them they've been running fucking rampant these past couple years, maybe it's just melbourne

[Anonymous No.6630076]

>>6625342
rap already fucked me my bags are heavy af

[Anonymous No.6630093]

>>6626821
holy fuck that's madness

[Anonymous No.6630294]

trying to brainstorm how to make some coin off the coming housing decline (apart from just shorting it). Its not going to crash thru the floor like the american one but its undoubtedly slowing down. And the perth market has already started crashing due to the mining boom slowing down

[Anonymous No.6630322]

>>6630016
Bris fag, not probs here
Dont watch TV (ever)
So i guess im out of the loop on Melbourne

[Anonymous No.6630361]

>>6629464
Queenslander detected

[Anonymous No.6630378]

>>6630294
You sit on the sidelines and don't buy yet. That's how you profit. You keep your money invested in instruments that are appreciating, then when the papers, nightly news and current affairs programs are flooded with hard-luck stories and "crisis" stories, then you buy.

[Anonymous No.6630462]

>>6630378
>current affairs programs
its almost worth forgoing the gains than to subject myself to today tonight

[Anonymous No.6630476]

>>6628097
canadians are bros, you're basically snow-kiwis.
expect some bants and ppl to say "aboot" and 'eh a lot but the average aussie only knows of canada from South Park

[Anonymous No.6630542]

>>6630378

what type of asset could be appreciating in a market depression? Lithium? Oil?

[Anonymous No.6630572]

>>6628189
i'm fucken melting you shit cunt!

[Anonymous No.6630620]

>>6630572
yeah too right shits fucked

[Anonymous No.6630662]

>>6630542
Gold and lithium miners. Crypto obviously. Health and healthcare type stocks

[Anonymous No.6630703]

>>6629169
they changed this recently. but I've already been away so long that I'm not even in the system anymore.

the 10k limit can be solved just by hodl hn a foreign bank acount, transfer or just use remotely.

[Anonymous No.6630841]

>>6630703
mm that is not going to fly in an actual audit

[Anonymous No.6630967]

>>6627146
>withdraw currency
>you're not withdrawing currency

[Anonymous No.6631002]

>>6625125
Change. The. Date.

[Anonymous No.6631254]

If I ever make it big, I'm going to buy a house purely for Aussie /biz/ bros to chill at a way discounted rate until they can make crypto gains. It won't accept boomers or anyone who can't prove they're from /biz/

I want us all to make it, but I've still gotta wait for the FUN boom before I can start really aiming to make it, myself

[Anonymous No.6631278]

>>6631254
how do you prove you're from biz?

[Anonymous No.6631304]

>>6631278
I ask if you've invested in kneepads at any point in your life

[Anonymous No.6631329]

Buy Canngroup. It's a weed stock. Going to blow up this year.

No need to send me a donation, I help poor niggs for fun.

[Anonymous No.6631384]

>>6631002
Should have exterminated the lot of them, shame they didn't have more foresight back then.

[Anonymous No.6631394]

What went wrong?

[Anonymous No.6631503]

>>6631002
kys

[Anonymous No.6631541]

>>6631254
capped.

[Anonymous No.6631728]

>>6628013
Does this include utility tokens? Surely not, I can buy credits on Myfreecams for example and wont pay cgt on them?

[Anonymous No.6631777]

hey retards, is the motherfucking ASX200 going to recover or fucking what?

[Anonymous No.6631885]

>>6628308
Honestly the 4% in fees gets completely negated by the more expensive Australian market. It's also instant. In fact even with the fee you had a 10% margin over buying it on BTCMarket.

[Anonymous No.6631929]

Asx code : BIG

Share price way behind FA.. and TA showing breakout imminent. Just started ramping up sales in America.

[Anonymous No.6631961]

>>6631728
So that is on bit coins of a cost basis under 10k, if you bought 10 of them for 1k each and hodld then bought 100k of everyday shit with them technically you may get away without CGT... Reasonable chance you're challenged if you're trying to take the piss though. If you have been trading a lot and you're challenged you will lose

[Anonymous No.6631966]

Cheers for the tip tip wal. Just loaded up in BIG

[Anonymous No.6632284]

>>6627181
They are already working with Western Power you plebian, look at their website

[Anonymous No.6632309]

yerrr straya m8. why isnt there one of these threads every day. i just moved to brisbane, the heat here penetrates deep into your body, never thought i would miss sydney but my face constantly melting off fucking sucks.

[Anonymous No.6632351]

>>6632309
Welcome to qld cunt

[Anonymous No.6632357]

>>6631254
Ive thought about this
Not /biz specifically
But a share house of entrepreneurs
Could almost be like a startup incubator

[Anonymous No.6632378]

>>6632357
except this country seems to fucking hate startups

[Anonymous No.6632394]

aaaaaaaaaaa why is coinjar's rate so shitty

[Anonymous No.6632400]

Fuck boys

I got a interview for Coles nightfill tomorrow. Any tips?

[Anonymous No.6632439]

>>6629464

There is atleast 110,000 black Africans, plus 200k from SA and Zimbabwe, that are prob white, but could be black.

There is more Africans than Abbos in oz.

[Anonymous No.6632458]

>>6632394
look at coinspot.com.au
fucking rippoff kek

Im actually struggling to get enough funds into crypto. the coinbase limits are a joke. still waiting for verification on other sites.

I even called $800 bottom for ETH, but couldnt buy much due to gay limits :/

[Anonymous No.6632477]

>>6632400
go to a coles your not being interviewed at and ask those fags

[Anonymous No.6632480]

>>6632400

Basically explain you're not a complete retard capable of doing a job, any job, and you'll be hired. Don't sperg out or anything.

[Anonymous No.6632494]

>>6632400
tell them you are a a submissive worker and take no for an answer

[Anonymous No.6632495]

>>6632458
>coinspot.com.au
jesus thats even worse. i sold yesterday expecting further dip and it fucking did at 3am fuck i was in bed, now i need it to go lower than 14500 reeee

[Anonymous No.6632543]

>>6632439
Apparently so. I was ignorant of the Melbourne invasion.
I bet all the liberal Melbourne cucks are loving the "diversity"
None up here thank god.

[Anonymous No.6632574]

>>6632351

Heh, i spent 4 years traveling to every part of every state besides the desert, Melbourne's heat is multitudes worse than Qld. Tassies sun will burn you at 15°

[Anonymous No.6632627]

NEM is huge in Australia. Developer incubator dedicated to expanding the ecosystem and FIAT onramps incoming.

Literally stay out of NEM if you hate money. Catapult update will change the game.

[Anonymous No.6632658]

>>6632543

They are in every major city, Melb just got the worst because once they were settled in Rural cities with thier tax payer funded houses, furniture, cars and clothes they move to the city with the rest of thier shitkin. Sydney, Brisbane, Adelaide and perth all have the same problems just on a smaller scale.

[Anonymous No.6632663]

>>6632574
Gold coast has the best weather IMO
That ocean breeze keeps the summer temps reasonable
And winter is still pretty warm

[Anonymous No.6632673]

>>6628280
Where does it say that it applies to all Crypto A..

And B) lmao ATO.

[Anonymous No.6632697]

>>6632543
in general nobody is having a fucking bar of it, even news swung back around a while ago to call out nationalities after pussyfooting around a race war. there are of course still cucks talking sweet on social media, until their faggot vegan bbq gets BTFO by these monsters.

[Anonymous No.6632703]

>>6632627
pajeetshave been shilling catapult since fucking march 2017. vaporware

[Anonymous No.6632754]

>>6632673
A) in the first fucking paragraph of the guidelines website

This guidance paper provides an overview of the tax treatment for transactions associated with crypto currencies, specifically bitcoin. This guidance also applies to other crypto or digital currencies that have the same characteristics as bitcoin.

B) just don't fuck it up anon. ignorance will get you nowhere.

[Anonymous No.6632755]

>>6632703
Well now it's here. Released on the MIJIN chain already, and coming for mainnet. DYOR before spewing FUD

[Anonymous No.6632786]

>>6632663

Ill agree with that, I'm pretty pale, but i can go to the beach in low 30s weather, it's warm enough to swim but i won't get burnt.

[Anonymous No.6632986]

>>6632697
Start deporting ALL offenders
If minors, deport parents too
They're responsible for their kids
See how quick it stops...

[Anonymous No.6633039]

>>6632986
yeah there was talk of deporting that didn't really seem to get off the ground, but anyway that builds no fundamentals for the fresh ones being shipped in. end of the day it's probably time for the pajeets to move up a notch, someone has to take their duties. they'll get sorted.

[Anonymous No.6633078]

>>6628097
Fine mate, we’re pretty similar personalities I think

[Anonymous No.6633083]

>>6632351
cheers brah

>>6632786
fuck man i went for a walk when i first got to brissy and got sunburnt af after being the in the sun a lot in syd. can't even walk for 10 mins without dying here. i dont know how pale cunts survive

[Anonymous No.6633118]

>>6626469

Sydney is fucked compared to Melbourne

Melbourne has one of the best public transport systems (the infrastructure not Myki) and the city is fuckin topsy turvy

[Anonymous No.6633202]

can anyone redpill me on the best areas to live in brisbane. im going to uq so short commute plz. have about 800k-1m for an apartment

[Anonymous No.6633378]

>>6626469
>sydney is fucking great

[Anonymous No.6633507]

Does anyone get a feeling that Sydneysiders are elitists that compares what uni and suburb you live in

[Anonymous No.6633540]

>>6633507
sydney is full of shit tier people. what do you expect when every scum bag corporate moves there to get a job. its a cunt magnet.

t. lived in sydney for 31 years

[Anonymous No.6633696]

>>6627336
Look at your tax report (or someone elses) Most of the money goes to old people.

[Anonymous No.6633787]

>>6627418
LRoS take a hefty bit off the top FYI

[Anonymous No.6633797]

>>6633696
Don't buy it. I bet they're going to some Somalian who's claiming centrelink off his 5th dirty unwashed kid named Mohamed.