If I buy Bitcoin in the UK and sell it in Australia (or vice versa) how does that complicate tax?
I'm a dual citizen but reside in AU - My initial plan is to buy with my UK tax-free inheritance using £GBP, probably wait for a short time for the value to increase to cover the fees, and sell partially for AUD$, while holding the rest as a Bitcoin investment for more than a year, or until the peak of the next bull run. In Australia if you hold for more than a year there's a 50% discount in capital gains tax, but what if I didn't buy it in Aus? I'm unsure how to pay the least tax when I sell Bitcoin. The UK tax-free exemption yearly limit for all investments is £11,700 so perhaps I can sell this much worth for £ each year. Then if I spend it with my UK debit card in AU does that have tax implications in AU? Thanks!
Hi Guys, I am new in Australia and make some investment in Bitcoin. I need to buy bitcoin by Bpay and poli payment transfer. Coinjar is suitable but it is been 3 week and still pending reviews. What is your suggessions?
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What are the laws regarding buying and selling bitcoin (or crypto in general) directly from person to person in Australia?
If two people know each other (eg friends or family), and one person has bitcoin (or other crypto) they want to cash in, and the other person wants to buy them, what rules to they have to follow and what records do they have to keep in order to stay above board with regard to taxation and money transmission laws etc?
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