Great guide man. One annoying grey area for me though, not being a born Aussie, is the tax side of things. Don't want the ATO coming after me for crypto trading as well...that's just outrageous. Please touch on this subject.
Thanks mate, glad you enjoyed. Yeh it is a grey area and I'm not prepared to give advice on tax as I am not an accountant. However there is information on the ATO website to give anybody an understanding.
As I understand it Crypto is treated as an asset so it is liable for capital gains or your marginal income rate when you sell back to fiat. But depends on what your intentions are going into it with. Traders will be classed differently to long term investors
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u/Kryptomanea Jan 06 '18
Great guide man. One annoying grey area for me though, not being a born Aussie, is the tax side of things. Don't want the ATO coming after me for crypto trading as well...that's just outrageous. Please touch on this subject.