Cryptocurrency Taxation Australia – 2019 Crypto Tax Tips

Cryptocurrency Taxation Australia – 2019 Crypto Tax Tips
Tax time is approaching in Australia after another volatile year for Bitcoin & Crypto markets. With the new data matching system now in action it’s more important than ever to get your crypto tax done correctly. Adrian for Crypto Tax Australia has sorted 100s of our followers all over Australia! #Crypto #Tax #Australia

Australian Crypto Tax: https://cryptotaxaus.com.au/nuggets-news/
or mention: ‘Nugget’s News’ for 10% discount.

๐ŸŽ“ Learn more about Nuggetโ€™s Crypto Community: https://nuggetsnews.com.au/nuggets-crypto-community/

๐ŸŽง Nugget’s Crypto Podcast : http://nuggetsnews.com.au/podcast

๐Ÿ‘ซ๐Ÿ‘ญ๐Ÿ‘ฌSocials
Facebook: http://fb.me/NuggetsNews
Twitter: https://twitter.com/NuggetsNewsAU
LinkedIn: https://www.linkedin.com/company/NuggetsNews
Instagram: http://instagram.com/NuggetsNewsAU
Reddit: https://steemit.com/@NuggetsNews

๐Ÿ“ฌ Join our Mailing List: https://nuggetsnews.com.au/newsletter/
๐Ÿ“ฒ Contact Us: http://bit.ly/2tHKKwN

๐Ÿ‡ฆ๐Ÿ‡บ Own Cryptocurrency in your Superannuation
https://newbrightoncapital.com/nugget (“NUGGET” When completing the application)
๐Ÿ‡ฆ๐Ÿ‡บAustralian Crypto Tax: https://cryptotaxaus.com.au/nuggets-news/
or mention: ‘Nugget’s News’ for 10% discount.

๐Ÿฆ Need to purchase/sell large amounts of crypto? https://calebandbrown.com/ (Discount code: Nugget’s News)
๐ŸŽค Hire me to Speak: https://www.linkedin.com/in/AlexSaundersAU/
๐Ÿ‘• Crypto Clothing: http://shrsl.com/nf7o

๐Ÿ” Secure your crypto
Ledger: https://www.ledgerwallet.com/r/f536
Trezor: https://shop.trezor.io?a=esyfabvzr6zu
Ecomi: https://securewallet.shop/products/secure-wallet (Discount Code: NUGGET)

๐Ÿฆ Some of my favourite places to buy & trade coins:
Coinspot: https://www.coinspot.com.au?affiliate=YNV53
Abra: Get $25 free when you sign up to trade with Abra & deposit $5 or more: https://invite.abra.com/CY0netIemV
Bitmex: https://www.bitmex.com/register/NFIXYP
Coinbase: https://www.coinbase.com/join/54152b230bf6fa71dd000002
Binance: https://www.binance.com/?ref=10788816
Binance EU: https://www.binance.je/?ref=35028437
KuCoin: https://www.kucoin.com/#/?r=188MQ
Huobi: https://www.huobi.com.au/invite-success?invite_code=j4223
BiBox: https://www.bibox.com/signPage?id=11468551&lang=en
BitFinex: https://www.bitfinex.com/?refcode=FJfGA79ciH
EthFinex: https://www.ethfinex.com/?refcode=FJfGA79ciH

The Chart Guys:
๐ŸŽ“ Crypto Trading Course: Discount code: Nugget10 https://www.chartguys.com/courses/crypto/?ref=5
๐ŸŽ“ Crypto Alerts System: Discount code: NUGGY10
https://crypto.chartguys.com?af=539351d975

Trader Cobb:
Advanced Trading Courses: Discount code: TCNUGGET10
๐ŸŽ“https://www.tradercobb.com/cryptocurrency-education-courses/

Disclaimer: I AM NOT A LICENSED FINANCIAL ADVISOR. MY VIEWS ARE GENERAL IN NATURE AND SHOULD NOT BE TAKEN AS FINANCIAL ADVICE. ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING ANY MONEY.

29 thoughts on “Cryptocurrency Taxation Australia – 2019 Crypto Tax Tips

  1. From personal experience I can highly recommend these guys for calculating and sorting out all your trades from across many different exchanges super easy. https://tax.sublimeip.com.au/ great system makes it so easy and support is very helpful and quick to respond

  2. Easiest way is to trade against aud or usd not btc? Yet alot do btc so both alt and btc fluctuate.

    Easiest way is to use is a aus exchange even though more expensive, some are working to help report to tax.

    Thinking to sell everything starting again this year coming amd noting it all down from get go as good as i can. I got shit everywhere overs the last 2 years.๐Ÿ˜…

  3. if you have less than $10,000 in crypto do you have to declare?
    and does paying bills on LROS count as personal use?

  4. If I were to use my gains to pay off my credit card on living room of satoshi for example, would I still need claim those as capital gains and would that be considered a personal use of a crypto asset?

  5. What if you just HODL long term ? it is so hard to find out, I have even asked tax agents about that and they don't know.

  6. IMHO

    The ATO will take this whole taxing of Crypto assets very seriously; as this is establishing a body of precident as to how crypto is taxed and how crypto tax evasion is prosecuted.
    … …
    Do Not think you can get away with hiding crypto transactions on offshore exchanges, and not declaring your capital gains; because the ATO could consider your actions as tax evasion.
    … …
    This also applies to early crypto holders; try to get ALL of your history & records under control, and not just for this tax period; because if you are questioned about this year, you could also be audited on previous years, going back a very long while ago.

    IMHO.

  7. Stripe me pink fellas ๐Ÿ™ˆ
    Thatโ€™s government theft ๐Ÿ‡ฆ๐Ÿ‡บ๐Ÿ‘ˆ๐Ÿผ

  8. So we're guilty until proven innocent and we should share our keys in case we die.
    If I held crypto I'd fail to see the government's authority to tax a system that is separate to theirs.
    Sharing keys? Trust? What is this?
    Certainly ain't crypto…

  9. What about just buying and holding not selling for x amount of years? Itโ€™s joy gains till you sell back to fiat (AUD) true?

  10. Really excellent video Alex (nugget), this one really summarises the basics, last years video was more complex. Basics spread sheets and your tip last year to just hodl, I appreciate you replying to my message last year, your a good man. I always watch your videos and will do this one a few times ๐Ÿ˜ƒ๐Ÿ‘๐Ÿ‡ฆ๐Ÿ‡บ

  11. Itโ€™s almost impossible to help someone understand this whole ecosystem let alone convince them to open up their own cryptocurrency wallet lol.
    I find that just installing Blockfolio on their phone and make it seem like they own BTC so they can track it everyday works better.

  12. I personally think the whole expectation behind taxing crypto-currencies is ridiculous. The amount of work needed to compile hundreds of trades would be astronomical. Pay tax on what you cash out simple traceable and fair.

  13. A big problem is that not all exchanges keep trading history for 1 year, best to note the history timeframe that is available and set a reminder to download the history.

  14. Safe Haven (SHA) is the solution for the inheritance solution spoken of in the end, theyโ€™re launching many products that will help with that Alex, should look into it ๐Ÿ™‚

  15. If your a trader, good luck with trading stock at June 30 in a bull market…you will pay on unrealized gains

  16. OP says that the ATO is getting data from Australian exchanges. The obvious solution is to use exchanges abroad. I sent IMTs to my accounts at overseas exchanges years ago as I knew the ATO would be on the hunt one day needless to say that oz exchanges are a rip off anyway

Leave a Reply

Your email address will not be published. Required fields are marked *