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/biz/ - Business & Finance

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29946278 No.29946278 [Reply] [Original]

How do capital gains tax work if im on autismbux? (Australia)

>> No.29946620

>>29946278
More like Retarded Gains

>> No.29947085
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29947085

>>29946278
tax treatment is no different but you lose your bux if you go beyond the asset limits on this table

>> No.29947146
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29947146

>>29946278
(((They))) can't tax what you haven't sold
>42%
There is no hold for 12 months here cunt, its just a straight up assraping.
Capital gains for selling on a profit
Capital gains for exchanging on a profit
Capital gains for converting on a profit
There is no escape unless you offshore your trading, holding and 90% of your structures which is beyond the everyday investor like us.
The cherry on top, our Treasurer is literally called FrydenBERG, 100% kosher'd, unlike our profits.

>> No.29947364

was it suicide?

>> No.29947877

>>29947085
I got off Centrelink because of my gains. Does this mean I can have up to 482k worth of assets and still receive a benefit?

>> No.29948038

>>29947085
Yeah but how is it taxed if im on autismbux which is $25k year or so.

Am I taxed at $25k bracket, or taxed at whatever I sell?

EG: If I make a $100k profit on a trade, am I taxed at the $100k bracket for that trade? which is like 38% right? but if that was after 1 year, it would be 19% yeah?

>> No.29948158

>>29947364
Prob, she realised it was over for her. Pretty stupid that all she did with the frauded "investment" money was CONSOOOM shitty richfag products

>> No.29949192

>>29947877
Bumping this question.

Also what if I sold part of my crypto for cash, does that count as income?

>> No.29949354

>>29948038
The profit gets added onto your income so

25k + 100k so your income tax would be as if you earnt 125k and then the normal tax brackets apply so $19,822 plus 37c for each $1 over $87,000

>> No.29949681

>>29947877
well I just looked that up on google in 2 seconds but yeah if you are under the asset threshold then you still eligible for payments, I am surprised the thresholds are so high as well, might be higher for dsp than other welfare types as they often have compensation payouts to live on

>> No.29949745

>>29946278
Nice try ATO glownigger. You’re never gonna get my NEET crypto gains.

>> No.29949913

>>29946278
How much DIA to never see this man again?