ATO contacted me September 2021 asking why I had not included my...

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Bones01

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10/01/22

12:01

Post #: 58748385
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Originally posted by parkhyun1991: ↑

Since it is the alternative to Dogecoin, I personally think that there are thousands of people who own this token. After all, it is an alternative to DOGE. There are several crypto users saying that DOGE is worth your investment. However, you still need to learn the basics before you join the market. You might as well visit Learncrypto. I have been on the site for a while now and am glad that there are several basic guides that are easy to read. Well, there are several sites available but it is the site that I visit the most. Have you guys tried investing in crypto? What's great about using crypto is that it is decentralized. This simply means that the government or any authorities have no control over your transactions. Since there are no third parties involved, it also guarantees faster and cheaper transaction fees compared to using traditional currencies such as the US dollar or Japanese yuan. There are states and countries that already have regulations about using crypto. However, there is still a huge grey area about the legality of using crypto. Nevertheless, it is best to try investing in crypto only if you already know how it works. You might as try starting of with coins that are not too popular so that it is not to expensive. You also need to make sure that your crypto wallet is secure because it is where you'll store your coins and your private keys.

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ATO contacted me September 2021 asking why I had not included my crypto trades in my tax return. I had not kept records of my trades. I was shocked at how much information they had. They had enough info on my trades to be able to amend my tax return on my behalf . Don't believe what people say about crypto being unable to be tracked by ato. They told me many people will be called out in 2022.
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