Thread: Ethereum
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Old 6th February 2021, 12:38     #468
Nich
 
If your exchange allows downloading buy/sell order history as spreadsheet, get that.

From ATO info:
From a tax perspective, it's just like stock / currency exchange except you're dealing with multiple decimal places.

group your buy orders separate from your sell orders (group further by older than 12mo / younger than if in Aus). Get a total for each group

I would further categorise by purchased from exchange vs mined / air dropped. From tax perspective mined / air dropped / contentious hard fork are like stock buy back dividends / stock split.

Taxable Sell / disposal event includes:
- selling on exchange for fiat
- using crypto debit card
- gifting
- shapeshifting to other coin
- moving to Thailand and living off crypto gains

If you are planning to share capital gains with your partner (to stay under a tax bracket) make sure you can prove you entered into crypto investing as a joint venture. Being married helps this immensely, but let's face it, you're probably like me where I bought in, then got glazed eyes when raving about being my own bank, immutable transfers, and Aristotle's definition of money.
__________________
but what would I know?

Last edited by Nich : 6th February 2021 at 12:40.
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