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/biz/ - Business & Finance

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3531698 No.3531698[DELETED]  [Reply] [Original]

How do I get winnings from trading crypto-currencies into a bank account without the banks closing it? $50-100k range. Australia.

Sauce is Amy Adams.

>> No.3531715

>>3531698
Finance fag here. If you need help let me know. I can give you hypotheticals for informational purposes only.

>> No.3531748

>>3531698
Why would they close it

>> No.3531749
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3531749

>>3531715

I'm interested.

Which jurisdiction are you in?

>> No.3531750

>>3531715
Thanks for the reply. I'm all ears. I'm genuinely stumped on this matter.

>> No.3531760

>>3531749
Queensland

>> No.3531772

>>3531698
breddy easy anon.
1. buy gold with btc
2. sell gold to cash
3. deposit cash slowly. more than 10k triggers austrac. also, don't make multiple $9,999 deposits to avoid being flagged - this is illegal.
4. you may need to keep a fair bit of cash on hand.

>>3531749
tax law is fed law

>> No.3531778
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3531778

>>3531715
pl0x help, money senpai.

>> No.3531794

>>3531698
>>3531772
ps - this is tax avoidance and you may end up in shitters ditch if you get caught.
why not just pay your CGT and be done with it?

>> No.3531813

>>3531794
Wait. I want strategies that aren't evading tax. I don't give a shit about tax. This should incorporate paying capital gains tax at the end of it all.

I'm just wondering how you do it without the (banks) immediately locking down the account once they see a $20k deposit from coinbase in your account.

>>3531772
1) Who's trading gold for BTC lol?

>> No.3531827

To reiterate, this is all hypothetical. I also I don't care about paying tax. I want to pay tax.

>> No.3531828

>>3531698
keep it in crypto, earn more, move to new zealand, get citizenship, if your aus its easy, withdraw, they have 0% tax on it

>> No.3531836

>>3531813
I still don't understand what the problem is, just call them first if you think they're going to cuck your account

>> No.3531845

>>3531836
I have the autism. I don't want them to lock the account in the first place.

>> No.3531851

>>3531749
>>3531750
United States. Easiest way would probably be to list items for sale on legit ecommerce sites like ebay. You arent acctually selling these items. "Buy" them from yourself using your crypto through a service similar to paypal or whatever. Then use that to but prepaid gift cards online that allow cash withdrawals. Open up several bank accounts in your name or establish some small businesses and open accounts im thosr names. Then deposit that money in small incriments into your banks. Keep transactions below amount reported to government by banks. In US it is 10,000. May take you serveral months but that is what you want to avoid red flags.

>> No.3531860

>>3531813
what the fuck? this just got boring...

I use cointree for btc to fiat - bank account wont get locked, they comply with AML laws.

open account, transfer btc, transfer to bank account. report CGT at ta return time.

www.goldbuyersmelbourne.com.au

>> No.3531861

>>3531845
Fucking call them. And compare coinjars prices for the cashout, they're usually favorable