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Its treated the same way as shares so you get the 50% discount...

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Gmaria

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17/01/18

15:22

Post #: 30376883
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Originally posted by JoeBlow ↑

https://www.ato.gov.au/General/Gen/...rrencies-in-Australia---specifically-bitcoin/

Not sure of implications if held longer than 12 months like shares, but doubt most hold that long due to the volatility. Also perhaps like shares you can only claim a loss against CG profits so some-one losing say $10,000 when they only have other normal earnings from a job might get SFA as a deduction.

Amazes me they call it a currency, currency stability is what the globe tries to achieve, here we got a load of crap skyrocketing in value based on ZERO economic reasons just emotional frenzie ..... sure many made a quid, and now many can lose a quid too. Those in early enough are selling out to lock in profits.

Ripple down 50%+
Litecoin down 50%
Erethium down 40%

.... but they are still up 5x what they were worth 6 months ago, so will they bottom out or will they bounce? Who is trusting a bounce (if it happens) and going back in? Good luck.

https://www.gizmodo.com.au/2018/01/chinas-crackdown-on-crypto-mining-threatens-bitcoins-future/

So many govts now shutting the crypto BS down.

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Its treated the same way as shares so you get the 50% discount if held longer than 12 months.

The issue is trying to work out the AUD value of each trade. Some people trade this daily and on US exchanges (via bitcoin) which makes this extremely difficult to work out.
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