Comments by "Matthew Nirenberg" (@matthewnirenberg) on "Bitcoin Breaks $100K—Prepare for Crypto Taxes NOW" video.

  1. I'm trying to leave Australiastan as soon as possible so I can live somewhere I can work and thrive and where taxes are ideally 0% PIT so I can use crypto and not lose it all to the ATO as 'taxes'. Sadly the place is making it harder to leave - basically ALL 'assets' are subject to unrealized gains so you have to liquidate everything, pay the insane taxes, then pay the taxes on the money you take out of the country - leaving you with very little to survive on abroad. 'Assets' also now includes things that have never otherwise been 'assets' such as boats, planes, RV's, etc. (things that are normally considered liabilities / expenses) which are now being reported by insurance companies to the ATO if valued over $60k (approx. - I don't remember the exact amount) so they can do "Lifestyle Data Matching" and so they can interrogate you on where and how you got it (even though they already know due to their huge data mining), and demand unrealized gains tax if you leave. Oh, and that's assuming they let you leave, many people are being hit with regular jury duty to keep them stuck in the country and with licence related issues (incl. audits) to keep them stuck in the country. Combine that with the near infinite elections (at least 1 every year) and you can't change your electoral roll details (i.e. leave the country and get removed) because they freeze the rolls for elections, and they also freeze your individual entry whilst subject to jury duty. Australiastan is broke, thinks that all your hard earned money belongs to them, intentionally stops you investing and benefiting (the taxes make it not worthwhile) and then goes out of its way to stop you leaving after having regulated many of us out of work with insane BS professional registration schemes that are designed to force locals out of work (due to unworkable CPD and experience requirements) but makes the world of exceptions for 'skilled migrant workers'.
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  2.  @garrettmgunderson  The problem is purchasing results in the seller reporting the sale and who they sold it to. Thus they don't even need to do data matching, they already have it all in full detail. Thus you're screwed regardless.
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