Re:Bitcoin Halving Just Occured
by person_of_color on Tuesday May 12, 2020 @04:00AM
(#23151558)
You forgot to pay tax on your profit.
[ Parent
| on HN ]
No I didn't. I declared it and showed all transactions and my accountant factored it into my tax return. I kept a diary of all transactions. Casual Bitcoin with no intent to derive a long-term investment income and for sums below 1,000 do not necessarily incur capital gains tax. If you used 'know your customer' aware FinTech it's next to impossible to hide income from the ATO these days in australia and that's not a bad thing either.