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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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>> No.9315623

>>9315586

Lol... I sold everything I own in Australia and bought a house with cash in New Zealand and when the time comes i'll cash out my crypto in Denmark (mum is a Danish citizen) and move there.

Country is a literal shit-hole. 99% of people who think Australia is a great place have never traveled outside of the country other than to Bali, Fiji or New Caledonia. I got a 99.35 Atar and a very high WAM at University and worked as a Lawyer in Sydney and literally had to carry my entire practice group because the partners were lazy depressed old boomers and the rest of the team were females hired as status symbols or retarded pajeets hired due to nepotism

>> No.9315637

>>9315623
And I refuse to pay taxes to raise the 5 kids of some single mother in Penrith or Lakemba and to unwind fucked up Federal spending at the hands of mouth breathing boomers. It's not a system I think has the working Australian's best interests at heart and I left because I refuse to every contribute to it again.

>> No.9315669
File: 992 KB, 500x251, 168999302.gif [View same] [iqdb] [saucenao] [google]
9315669

i really fucking hate this country

>mfw trying to explain to my parents basic finance and they're telling me theres nothing wrong with the economy
>mfw they have a combined $1million mortgage of rental properties that are already in a loss
>mfw my family is going to absolutely JUSTed in the coming crash and will come to me for crypto handouts

>> No.9315676

>>9315623
I love Australia but ill admit it has problems at the moment

Infrastructure is awful
Nanny state lockout laws and awful bouncers with single digit IQ preventing people having fun
Property bubble built on a mining bubble
Culture of violence and serious ice problems

Shits fucked

But the land is beautiful. I love tassie t b h

>> No.9315689

Just got back from USA why is Airsoft illegal that shit is fantastic.
Also ducking hell we could be a powerhouse if our pollies weren't shit.

>> No.9315710

>>9315676
property bubble is fueled by central bank stimulus

>> No.9315738

Ignorance and greed runs this stupid fucking country. Bring on the market crash! I'm all in cryptos now

>> No.9315740

>>9315586
Has there been any further news on those crypto rulings? Did they make crypto-to-crypto exchange count toward your taxable income?

>> No.9315756

>>9315623
>I sold everything I own in Australia and bought a house with cash in New Zealand and when the time comes i'll cash out my crypto in Denmark (mum is a Danish citizen) and move there.

im jelly boyo. living the dream.

got a spare room going?

>> No.9315761

>>9315740
Well they literally just announced that cash transactions greater than $10,000 will be banned in the Australian economy. Make of that what you will.

>> No.9315773

>>9315740
ye, got JUSTed

>> No.9315777

>>9315761
source? its time to get out if so

>> No.9315819

>>9315761
nvm i found it

JUST

http://www.news.com.au/finance/economy/federal-budget/cash-payments-over-10000-to-be-banned-as-government-targets-50-billion-black-economy/news-story/9df0646ba704bd170df5b3996d512f52

>> No.9315849

>the government’s war on the $50 billion “black economy”

Holy fuck, you Aussies are racist.

>> No.9315888

It's not so bad anons.

You can easily make like $22-25 an hour at Coles. I work an easy job for $27/hr. Our close proximity to SEA 2nd-world nations means we can earn here & fuck off over there to live like kings. It's pretty cool.

>> No.9315897

Crip toe nigga

>> No.9315912

>>9315710
Is it ever going to burst it is that just a meme that won't happen?

>> No.9315958

>>9315912
Probably just stagnate for a decade until it gets back to the mean.

>> No.9316117
File: 602 KB, 793x794, 1525773639392.png [View same] [iqdb] [saucenao] [google]
9316117

Seriously, can someone just fucking hang these rats? Anarchy can't come any sooner.

>> No.9316180

>>9316117
>Do shit for me
>ancaps in a nutshell

>> No.9316191

>>9316180
I'll pay top dollar for it, it's a voluntary exchange

>> No.9316254

>>9315819
You fucking what
What kind of backwards communist mentality is that? How can aussies allow the government to outlaw such a thing? Truly disgusting

>> No.9316281

>>9315819

what the actual fuck

>> No.9316293

>>9315819
What if I want to buy a car for cheaper using cash?
This is just some bullshit that allows them to track peoples money

>> No.9316368

>>9315586
Australia is run by a bunch of fucking muppets. I deal with State government on a daily basis and the vast majority of people I've met who work in the public service are mindless idiots. Coupled with the extreme waste of bureaucratic bullshit that is increasing every day, I'm surprised anything is even achieved. The country is fucked.

>> No.9316408

Give it ten years and we will no longer be a first world nation, we hardly are at the moment.
I'm jumping ship end of year.
And thats not even mentioning the colossal immigrant spawn rate and crime waves.
I talk to guys over a beer about this every now and then, we know the best is passed but most are block headed to leave. They want to go down with the ship.

>> No.9316417

>>9315819

The Australian government will confiscate your savings to bailout banks.

Law was passed earlier this year

https://www.ainsliebullion.com.au/gold-silver-bullion-news/senate-passes-e2-80-98bail-in-e2-80-99-law-e2-80-93-how-safe-is-your-cash-now-/tabid/88/a/1722/default.aspx

>> No.9316475

>>9315586
>http://www.news.com.au/finance/economy/federal-budget/cash-payments-over-10000-to-be-banned-as-government-targets-50-billion-black-economy/news-story/9df0646ba704bd170df5b3996d512f52

fuck the government they fucking hate people trying to get buy and make money and they fucking hate tradies that do cashies while those pollie cunts gets over 400k in BENEFITS a year i think they get something like 180$ allocated per day FOR FOOD EXPENSES WTF IS THAT

>> No.9316492

>>9316475
Don't forget lifetime pensions for pollies.

>> No.9316520

>>9316254
They took away our guns

>> No.9316550

>>9315586
god i hope this shit backfire on the government and every cunt just starts using crypto to circumvent this 10k fucking bullshit

>> No.9316559

>>9316254
>>9316281
>>9316293
>>9316417
normies in this country dont care, they dont even know whats going. they deserve to get fucked

>> No.9316563

>>9316520

Ah who gives a fuck mate, they've been chomping on our wage increases for 40 years while everything else goes up the fucking mutts, it's so much harder to live in this cunt of a place and I care more about that than owning a fuckin rifle.

>> No.9316570

>>9316417
Bail in legislation is a G20 target that's supposed to be in place by 2021. Canada has also set this goal in case anyone's interested in the year the markets will collapse by design.

>> No.9316584

>>9316417
i literally only have 6k in my bank and over 300k in crypto now. anything else i earn goes straight to btcmarkets. i dont give a fuck.

>> No.9316599

>>9315637
You actually get it mate.
Tbh been looking at switzerland when i have enough to cash out (tax laws etc are good and lovely place w decent laws all round)
Need about 10-20m desu to get anywhere and never work again. Have you looked into switzerland?

>> No.9316661

>>9316563
ah fuck mate everythings fucked i dont know what to do anymore, noone should be scared to hold money in the fucking bank for fuck sake. I got about 500k in crypto and a 20k float in the bank (fifo sparky) i think im just gonna wait till the crash comes and actually buy a house after i get raped in the ass with tax, maybe take a year off work then sell the crypto to incur less tax and just do cashies to pay the bills.

>> No.9316698

>>9316661
Yea I'm looking at buying a house in about 12 months. Market might keep shitting itself so could get a bargain.

Then I might build a big fucking floor safe. Fuck the cunts

>> No.9316760

>>9315819
>http://www.news.com.au/finance/economy/federal-budget/cash-payments-over-10000-to-be-banned-as-government-targets-50-billion-black-economy/news-story/9df0646ba704bd170df5b3996d512f52
So what the Australian government is saying, is basically that now is a very good time to become a LocalMonero vendor, am I reading that right?

>> No.9317042

if I was an aussie I'd be loading up on BTC, XMR, and shitcoins that will go up so as to get more of both. country looks like an exit scam waiting to happen, their entire economy is mining and a housing bubble propped up by the government and Big Chink.

>> No.9317056

>>9315586
Im just waiting on a mate..

>> No.9317075

Heres a hint to fellow wagecuck Aussies.
You can self invest your own super in crypto. Capital gain tax is max 15%. Super is mostly invested in shares/property... Its going to tank.

>> No.9317076

Straya cunts. Plan your exits to SEA asap. (Or NZ, if you're a racist cunt who doesn't like the Jungle puss)

>> No.9317096

>>9316475
Lets fight the black economy!
Not with a crackdown on organised crime.
Not with tougher sentancing.
Not with monitoring shady NGO's or "Islamic banking"
Not with more police
The foreign money being laundered though our real estate from overseas criminals? Nah that's fine..

>> No.9317105

Simple solutions people. Once you make enough gains just fucking leave the country and don’t come back. That’s what I’m doing.

Let this dump burn down. I don’t think it’s possible to save Australia at this point. It’s very upsetting, we could have been an incredible country but we were sold out and have a complacent populace that may as well be brain dead to all the bullshit being thrown at them. This country deserves it.

>> No.9317159

>>9317076
how mate? i thought its strictly for shares. my parents need to get their super into crypto or they will get absolutely justed

>> No.9317164

>>9315819
....wow
And I literally threw an ETH into the Nauticus ICO not too long ago
Boy I sure can pick 'em, huh guys?

>> No.9317201

>this thread
it seems all your problems are a mirror image of Britains, atleast you have nice weather and mad animals kicking about,

>> No.9317229

>>9317159
Self managed fund. Costs 2.5k to setup, 1k fees per year. I'm waiting on my super to transfer, already got the paperwork sorted. With one called squirrel super or something, they are pretty cool.
Ah yeah be warey of telling parents to put theirs into crypto, if it crashes that is going to fuck your relationship.
I've only got 30k, i can afford to be super risky. Plan is to make 10x then put it into safer markets once the next financial crisis bottoms.

>> No.9317263

>>9315740
They had a thing on the ATO site where people could voice their opinion on the current rules (because it's confusing and shit right now), but the discussion only closed 15 days ago. I expect it will be some more time before we see a response.

>> No.9317337

>>9317263
I'm an accountant (not tax).
Currently if you use for buying something worth less than 1k i think it's considered currency. But who spends crypto on shit?
Every crypto to crypto transaction is a cgt event and you need to determine if it is a cgt gain/loss. Hold for over 1 year you get 50% tax discount.

Oh yeah one more thing guys. I have friends at ATO. You know how they say they are cracking down on tax dodges in the budget? One of those big ones is crypto gains, you have been warned. If you cashed out to your bank account or put fiat into the market via any aust exchange they have you on their list. Pay your taxes :(

>> No.9317384

>>9317337
>Every crypto to crypto transaction is a cgt event and you need to determine if it is a cgt gain/loss

This is where the problem lays. Many people have different shitcoins spread across multiple exchanges, traded on different dates. I have personally kept records using bitcoin.tax, but most people don't - and I don't blame them. It's a fucking mess.

If the government wants a majority of crypto investors in this country to pay their tax, then they should (as people have been heavily suggesting and voicing during the feedback thing recently) that the only taxable event should be on cash out, not on crypto-to-crypto trades.

>Pay your taxes :(
Jokes on them I am a NEET below the income tax threshold with my gains. All I have to do is lodge the form.

>> No.9317488

>>9317384
Completely agree. I do boring shit for a living and I'm nearly crying looking at the amount of bullshit I'm going to have to go through with all the exchanges and alt coins I've used. Don't get me started on airdrops, Eth pyramid games that give divs.

No way ATO stops treating like for like as CGT event anytime soon. Maybe we get lucky and mass adoption makes it a pressing issue but personally I'll probably be cashing out a lot then to avoid the next bubble pop so that will not save me.

>> No.9317568

Rich cunts we handouts, multibillion dollar companies get handouts, poor cunts below 90k a year her handouts.

Average city bloke working his ass to pay mortgage earning over 120k a year gets to pay for it all.

I work my fucking ass off to earn 130k a year and Half of my fucking money goes in taxes, I pay more taxes than fucking google or Apple.
I wish I had dropped out of life, I would be happier with a middle class house earning 50k a year, lots of free time too.

Fuck this country, punishes the hard worker unless u go billionaire.

>> No.9317609

>>9317568
You are going to get doubly fucked when the housing bubble pops too :(.
https://medium.com/@matt_11659/matt-barrie-australias-economy-is-a-house-of-cards-6877adb3fb2f

>> No.9317683

Poor aussies man, lovely country but your politicians have letthe chinese fuck you raw. Nice beaches tho

>> No.9317692

>>9317609
I bought near the coast a decade ago when it was cheap, I’m Gucci.

>> No.9317744

>>9317337
Tel me more please. I need to know more please.

>> No.9318064

>>9316254
Australia has been a communist country in practice for as long as I've been alive. The difference between it and countries that actually admit it is purely skin deep. I am just like >>9315637 except I was raised by one of those single mothers in Penrith and made it through tech rather than law, and I view it exactly the same way he does and I have left permanently and will never pay those fucks a single red cent for the rest of my life. I have traveled all over the world and have not found a more toxic population anywhere I've ever been. They're just so fucking stupid and proud of it. It's like the entire country is affected with abject apathy coupled with the absolute certainty that no matter how bad things get, they'll always be able to skin the productive tall poppies in the economy to make up for the useless cunts going through the motions and larping like they've ever had a valuable insight in their worthless fucking lives.
Every dollar you pay to the Australian government may as well just go in a huge sack labeled "fuck everything about the lives of anyone with the slightest hint of personal talent and ambition on this land mass and use the proceeds to pay people based on how far below the average intelligence level they are, and simultaneously act self righteous about both actions."

>> No.9318106
File: 490 KB, 2076x1198, Screen-Shot-2015-09-14-at-12.21.02-pm.jpg [View same] [iqdb] [saucenao] [google]
9318106

The level of rage ITT is ace.

>> No.9318172

>>9318106
It all comes down to how tax money is spent. Australian politicians just piss it away on shit infrastructure, fucking expense claims for themselves or some other inquiry/rebrand/rename every other year because they want to fucking spend money or the sake of it.

>> No.9318223
File: 404 KB, 1622x782, 2016 US Federal Budget.png [View same] [iqdb] [saucenao] [google]
9318223

>>9318172
Can you post a pie chart of whatever breaking things down by category? It's always neat seeing what non-Americans get to spend their free defense on.

>> No.9318389

>>9318106
Burden falls almost 8 percent above oecd average on top decile of earners, and the actual results of government in Australia are laughably inadequate, often counter-productive, having grown up in places like Penrith I've seen first hand what kind of lives are being cultivated by the Australian welfare systems and it's sickening.
That is also largely invisible to meddling leftist assholes who honestly think they're "helping" there when nothing could possibly be further from the truth.

>> No.9318434
File: 329 KB, 757x1013, AUS justed.png [View same] [iqdb] [saucenao] [google]
9318434

>>9318223
Absolutely JUSTED. Waste of my fucking tax money feeding these fat cunts who won't stop breeding.

>> No.9318480

>>9318064
may i ask where you have moved to? i need an escape plan. im thinking georgia myself