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31-12-2017, 09:56 PM | #301 | ||
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Just watching a youtube video. Someone bought 450 million XRP in one shot. Roughly $981 million USD purchase!
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31-12-2017, 10:22 PM | #302 | |||
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AML laws or Anti Money Laundering does not only just look at amounts of over $10K but rather patterns in transactions also, or anything that could raise a flag - even if you conduct totally legal business or general banking. Yes amounts over $10K must to be reported to Austrac but lesser amounts can still place you on the radar depending on what internal systems the bank or financial institution uses - some more sophisticated than others. It's not just human bank workers who process physical transactions, there is sophisticated software at play. And it affects all sorts of transactions - not just international transfers. Example: Your granny here in Australia gifts you $10K and you walk into the bank and deposit it - you have just been reported. The teller may just casually ask you something that sounds like general chit chat like "it's a good feeling to be able to deposit this to your savings" or whatever - in the hope that you give them some info which is added to the the report sent to Austrac. It's then up to Austrac to investigate further. Finally, Austrac = Gov. Oh, and a sure fire way to get on the radar quick fast is to deposit amounts just under $10K. Of course it's fine if you conduct legit business or banking. At some point in time most of us will have a report sent anyway, example: when you buy a home, pay deposit, sell a home, buy a car, transfer largish amount of funds for those much needed car mods from your preferred tuna A lot of this info is publicly available so it's no secret.
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Daily driven... Dyno-mite tuned Last edited by Saski; 31-12-2017 at 10:40 PM. |
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31-12-2017, 10:32 PM | #303 | ||
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31-12-2017, 10:46 PM | #304 | ||
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31-12-2017, 10:47 PM | #305 | ||
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01-01-2018, 11:54 AM | #307 | ||
Wait, what?
Join Date: Jun 2014
Location: South eastern melbourne
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The crypto ebb and flow
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01-01-2018, 04:37 PM | #308 | |||||
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When you say hold it for 12 months do you mean keep your funds in the BitCoin trade account and after 12 months withdraw it would be classed as a capital gain? So you would be better off withdrawing under 12 months and declaring it as income you would get taxed less or would you get taxed more as it would be classed as a "second" job/income? Which is the better option, declare it as income or as investment? Quote:
There must be ways to minimize your tax on Crypto Currency trading, I'm not meaning anything illegal, but there must be ways around certain taxes, there normally is.
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01-01-2018, 04:46 PM | #309 | ||
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you should talk to an accountant (hopefully you can find one that knows about crypto). the ATO has a published policy on their website, but it's still early days.
You don't want to take advice from 'someone' on a website, and get stuck with a massive tax bill. get professional advice - they have insurance for if they mess up their advice.
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01-01-2018, 05:09 PM | #310 | ||||
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01-01-2018, 06:36 PM | #311 | ||||
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Quote:
See links from Snap0964 below: Quote:
I plan on confirming that with accountant, as I won't be dropping anywhere near $10k into it, but surely it can't be if it cost me less than $10k to buy throughout the year then I don't need to declare it - would have thought it would depend on how much I sold it for (or more specifically how much profit/loss I made when I sold)? But the 10K is referenced in there by both an individual (WolifBolf) who claims to be a Tax Agent that is in to crypto, and is then repeated by an ATO-certified user (AmandeE). "However, gains from disposal of personal use assets are disregarded. Personal use assets are CGT assets, other than collectables, used or kept mainly for the personal use or enjoyment of you or your associates. Any personal use asset you acquired for less than $10,000 is disregarded for CGT purposes. If you did mine a small amount of Bitcoin as part of a hobby then your cost is generally only the actual costs incurred by you." |
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01-01-2018, 06:45 PM | #312 | ||||
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01-01-2018, 06:57 PM | #313 | ||
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Q: If you have tried to sell it three times now and it is still not sold, do you think it might be over-priced? A: It is over priced - just like all the other falcon coupes for sale!! |
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01-01-2018, 07:33 PM | #314 | |||
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What I've discussed and the links I've provided are designed to give you a heads up only. Do read through them to get a basic understanding - better now than to leave it til when you sell up. You do have a number of options, just a few - making a contribution of crypto business earnings to super - taxed at 15% rather than your marginal rate. If you've got a CGT amount - bringing forward capital gain loses to offset from previous years, and so on. Seek qualified advice. |
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01-01-2018, 07:41 PM | #315 | ||
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There is a buy order in now for ripple of $290,000 AUD. Dont know why I stressed about my $500 lol.
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01-01-2018, 09:26 PM | #316 | ||
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It seems to me that the big buy orders might be finance companies/Banks. It also says that ripple may have found its low price point.
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01-01-2018, 09:35 PM | #317 | |||
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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03-01-2018, 12:34 PM | #318 | ||
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Can anyone tell me how to use the Ripple QR code on the BTC Markets deposit page to deposit funds and also I take it that the AUD - BPAY Biller code and reference number is my unique deposit reference?
Is the QR code payment method the quickest?
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03-01-2018, 12:36 PM | #319 | |||
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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03-01-2018, 12:39 PM | #320 | ||
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In regards to the QR code do you mean the two factor authentication thingo? If so you just need to download the google authenticator app to your phone. The QR code is used by that app. It doesnt have anything to do with deposits it is just added security for when you log in.
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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03-01-2018, 01:30 PM | #321 | ||
Wait, what?
Join Date: Jun 2014
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Just reading the btcmarkets tweets, they’re currently attempting to get through 20,000+ bpay deposits.. business is booming
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03-01-2018, 01:46 PM | #322 | ||
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lost so much money waiting for bpay to clear is there a quicker way to add funds newbi
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03-01-2018, 01:48 PM | #323 | |||
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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03-01-2018, 01:53 PM | #324 | |||
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03-01-2018, 01:59 PM | #325 | ||
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I've been waiting since I wanted to buy at $0.99c, waiting for my verification letter and now for funds to clear only to watch it go up by the minute.
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03-01-2018, 01:59 PM | #326 | |||
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The deposit ripple is so you can have it stored elsewhere in a secure wallet and then when you want to sell it you then deposit it back onto btcmarkets and then sell it. Sent from my SM-G935F using Tapatalk
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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03-01-2018, 02:00 PM | #327 | ||
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Double up...
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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03-01-2018, 02:03 PM | #328 | ||
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03-01-2018, 02:55 PM | #329 | ||
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yeah not going to happen unfortunately anz looks like i have to wait
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03-01-2018, 02:58 PM | #330 | |||
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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