07-16-2020, 11:19 PM
Taxes paid, regrettably.
<!-- SC_OFF --><div class="md"><p>I swallowed my pride and paid tax for the past three financial years. The Australian government is cracking down on crypto investments and I would rather come clean than have the fear of being investigated by the Tax Office. I hadn't paid crypto tax before because I thought "F the man". I hated doing it but I did it.</p> <p>Big gains in 2017/18, big losses in 2018/19 and a small loss last FY. I'm paying $6000 in back taxes and I'm carrying forward a significant loss that I'll be able to offset, which is something.</p> <p>It's shit that I'm way down on my investment yet I still have to pay a significant amount in tax. That's what happens with a bubble I suppose. I'm confident for the future though.</p> <p>I'm very tempted to trade in decentralised exchanges and hide the truth from the tax man for future years. Any thoughts on this?</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>I swallowed my pride and paid tax for the past three financial years. The Australian government is cracking down on crypto investments and I would rather come clean than have the fear of being investigated by the Tax Office. I hadn't paid crypto tax before because I thought "F the man". I hated doing it but I did it.</p> <p>Big gains in 2017/18, big losses in 2018/19 and a small loss last FY. I'm paying $6000 in back taxes and I'm carrying forward a significant loss that I'll be able to offset, which is something.</p> <p>It's shit that I'm way down on my investment yet I still have to pay a significant amount in tax. That's what happens with a bubble I suppose. I'm confident for the future though.</p> <p>I'm very tempted to trade in decentralised exchanges and hide the truth from the tax man for future years. Any thoughts on this?</p> </div><!-- SC_ON --> Kind Regards R