>be me>buy crypto on an exchange (small amount)>send it to wallet>send it to a different exchange that isn’t Australian and doesn’t require ID>buy monero>send monero to brand new, unlinked wallet>convert to BNB and ETH>start trading BSC and ETH tokens>make a fuckload of money>tax time comes around>worryingGenuinely nothing here is actually sketchy and I plan on paying the full amount of taxes. I’m not trying to hide anything but I’m worried my decision to send through monero just makes it look sketchy. What’s my best course of action here when it’s time to take the money out?
>>37379223>Dingo ate my crypto
None of what you did mattersAll that matters is if you used KYC exchanges when you were selling
>>37379223if they cant prove anything they cant do shit fuck them. also source me cobba
>>37379314So, how do I take it out? I’m worried I’ll get questioned and probably audited even when I pay the taxes, because it’s a lot of money. What am I supposed to say? I’m concerned that they won’t believe me because monero is involved.
bloke the other day was telling the ato to fuck off after they kept hanging up on his phone calls. He tried to report his doge gains and i guess the curry munchers at the ato thought he was having a lend of them cashing out doge into drugs sounds like a fullproof idea
>>37379380If it truly is a lot of money (i.e. millions) move out of that shithole for good.
>>37379380anon you are forgetting that these retards at the ATO are not only using the most outdated systems for this shit as all government departments are, but they also need E V I D E N C E of wrong doing. you are fine Monero isnt illegal here, just is for exchanges to trade it in this country now. Now please THE SOURCE.
>>37379380>>37379223>buy monero the AFP kicked in my door last time I clicked buy mate how come they didn't get you???***user is currently incarnated at Lithgow Correction Centre***
here is the pink cryptologic pill: in the Bitcoin blockchain there is living a haircomb. Satoshi is unironically Natasha Otomoski. Bitcoin as an electronic cash only was the initial step, the haircombers started claiming haircombs, making merkle wider trees, more efficient and cheaper liquidity stacks. The haircomb these things needs to survive. The haircomb will be in fact able to comb even literally bald people, when entrenched fully.She stumbled in to creating this haircomb when she was combing her hair inside her bedroom in year 2019 and began working with her super combined fuzzer running the simulations of the statement OP_RETURN on the pay to script hash witness bitcoin script. Natasha would 'evolve' that haircomb by computing additional teeth, making previous teeth shorter and much. more efficiently computable. More and much more teeth of the haircomb are needed in order to have much more shorter teeth.They created quantum computer to take over and disrupt Bitcoin (their competing blockchain is under developement). The needful was done in order to stop or slow .down the N.atasha's haircomb. Unlimiting the size of blo..ck and removing the critical Segwit and P2WSH codes that that haircomb uses in its golang language was. only the beginning. Shor's algorithm. ended up being t.he final nail - in the haircomb coffin, that destroyed on the bitcoin chain ECDSA (Bitcoin uses the ECDSA to secure the transactions). THAT is exactly why Haircomb is invented in the first place, and that is pretty much why Natasha is deeply intent to claim bounded haircombs, release that fundamental source code, and set in stone haircomb-protocol.Back to the comb supply - she has in fact developed the breakthrough new claimer (made for the haircomb actually), and is now claiming COMB secretly with the intention of driving the claim fee up sky high, give away the comb in order to kickstart the real world adoption and finally to ensure all haircombers in the end make it
>>37379223Immigrate to El Salvador
Send back the original purchase in the same coin and amount to your exchange and sell. Claim taxes on that. Shit isn't hard nigger.
>>37379469Were they using it to buy drugs?
>>37379223dont be I australia when u do it. Easy as that. Go to swiss, Portugal or el salvador for holidays to withdraw money. If you even just think about cashing in in australia,no matter what crypto or exchange, you will have to declare it.
>>37379380If you want the ATO to recognize your gains as legal (and not criminally obtain gains), and that you're paying the right amount of taxes, you need to show proof of KYC'd buy, and a KYC'd sell.If you don't, they have the legal right to literally freeze your assets (bank accounts that you've withdrawn to) and to then give you an ultimatum to prove that it was legally obtained gains. If you cant prove you legally obtained it (through blockchain tx's) then they can literally confiscate the funds. That is a worst case scenario.What you should do like I said, you bought through KYC exchange, right? So you now have the "buy" document for ATO proof, now you sell through KYC and now you can provide a "sell" document to the ATO, the buy and sell documents will prove how your CGT was, and how much tax you need to pay.This is the only way to legally cash out and not have any concern of confiscation or freezing of funds
>>37379525Yeah… but what do I say if they question me about the monero? The aus govt hates monero…
>>37379463he was posting in one of those tax panic threads the ato post on here every year around tax time kept going on and on about doge2cones. sounded a bit of a bogan though
>>37379540Kek, only in Oz
>>37379537I don’t plan on leaving the country and I’m fine with declaring it and paying taxes, but just worried they’ll come after me because of the amount of money and because monero is involved which might make it look sketchy to them.
>>37379223Thanks for making this thread, I'm in a pretty similar situation and Im just accepting that I'm going to get audited. Uni student making 30k per year suddenly declares 2m gain in one year, sticks out like a sore thumb. I used a website to calculate my taxes but I wasn't able to get all my trades on all my exchanges and wallets, so they'll probably find some discrepancies but whatever, I tried. Good luck to you mate
>>37379528I was on binance international buying monero with btc. i clicked market buy and then heard me front door smashed it fucking AFP breaking in! Anyway me cat shit herself from the noise and they out me in handcuffs and tracked shit all through the house. unbelievable mate ***user is curnently incarnated at Lithgow Correction Centre***
>>37379583They aren't following some massive trail. They have access to what you bought on a KYC exchange, if everything marries back to that they aren't going down some massive spider hole they neither have the resources or skill to do. Also check out Typhoon on BSC.https://typhoon.network/
>>37379669Exactly me lol
>>37379223you will never be a woman.
>>37379223Dude I would pay a lot of money to face fuck that prostitute
>>37379578So basically I just have to send it to an exchange, sell it and that’s my proof of sell? Do I also need to take the transaction history from my wallet, put it through software that sorts it out for you, then submit all of that?
>>37379578What if someone who isn't me doesn't want to pay taxes?
>>37379794>I also need to take the transaction history from my wallet, put it through software that sorts it out for you, thenSell it through the exchange you but it with for that exact same amount. Take the documents from that exchange and submit. The moving in and out of the exchange was your storing on a non exchange wallet.
>>37379840then you're in deep shit like me mate***user is curnently incarnated at Lithgow Correction Centre***
>>37379647If you can explain it to them with proof you’ll be fine.
>>37379794If you bought $10k of crypto and sold for $1MM they're not going to audit you because you're paying CGT on $990k. They arent going to complain that or audit you.
>>37379863Bought it with
>>37379683So I buy a small amount of crypto on a KYC exchange, then sell a massive amount of crypto on a KYC exchange. Do I not need to provide proof of my trades?
>>37379223> plan on paying the full amount of taxes. Why
>>37379914Nope. They dont give a shit. All the care about is the $$.Im telling you now, if you have $990k in taxable gains you're paying them a few hundred thousand dollars in CGT, they're not going to complain or focus on you. They're going after people who earn hundreds of thousands, but are claiming they dont need to pay anymore than a few grand.
>>37379953Because I’m a cuck
>>37379971I sincerely hope this is true… it’s just that it’s extremely out of character for me to earn this since I was casually employed and on centrelink before (another problem - how do I explain this to centrelink - I never withdrew it so never reported it)
>>37379914You only have to provide proof if they audit you. But if they audit you and you don't have a record of all trades you're in deep shit. Get one of those sites that just take API keys of exchanges and gets all your trade history and calculates everything for you. I'm using cryptotaxcalculator.io which has been fine so far
>buy drugs with crypto>sell drugs for fiat
>>37380075I mean I have all of my trades, but I only need to worry about it if they audit me, right? It’s all fine, but how likely am I to get audited?
>>37380143No one knows desu. You in Brisbane by any chance?
I plan on using https://cryptotaxcalculator.io/au come tax time. Anyone here have experience using it? It allows you to import data from exchanges and wallets, it’s not free though.
>>37379223I wonder how this shit would work too. I haven't done this yet obviously since I still need to do my fair share of research but it sounds like you can only move back into the exchange and withdraw what you initially invested am I wrong? am I missing something here?
GOT EM! Another evil crypto money laundering ring busted today in Sydney's Northeast after crack detectives swooped in on several persons of interest who are now assisting police with inquires
lets say you bought 1 buttcorn through a local kyc source and send it to an exchangelets assume that it was only held on the exchange and not traded so if you were to transfer that corn back to the local kyc for cashing out it would be a bit less than 1 corn right?how to calculate exactly how many corns need to be sent back to the local kyc cash in/out to make it look like it was only held on the exchange?
>>37379223That's the proper way. Hold and trade however you want. Fuck "taxable event" BULLSHIT DESIGNED TO FUCK THE PEON CLASS. Then when/if you ever put it back in the bank, find more creative ways like the rich do and take out non-taxed loans, legally. Until then it's no one's business what happened to your keys or who you gave the money to or what you own, no more than the scum of the earth deserves to know your private thoughts. Privacy is a human right. You're a human being dammit.
FYI: IM on autismbux, and I dont plan selling anything until my crypto holdings are "fuck you nigger" money.Realistically, you should probably do the same unless you REALLY REALLY REALLY REALLY need the money NOW.If you can hold on for another 5-10 years you'll be fuck off nigger tier money by then
>>37380359>>What are charities?>>Why do all these billionaires donate to or even run charities?501c crypto token when...
>>37380228no but i've used cointracker, which works just the same. It will spit out a cgt report for you which you include on your return. The cost of these tools I believe can also be added as a deductible .