Quote from: skidog on June 19, 2017, 11:24:19 PM

Quote from: Seanzqt on June 19, 2017, 10:23:36 AM

Quote from: Seanzqt on June 19, 2017, 07:49:33 AM

VIA is powering on today Grin

Better safe than sorry, in Australia we can capitalise on our losses so we won't pay tax or income tax for that matter on the amount we have invested. If lets say I invested $50,000 and then took out $50,000 anything over $10,000 to the dollar is reported to AUSTRAC it's all about protection and anti-money laundering, the banks report everything and the taxation office knows all so there isn't any easy way to escape it.

Keep records as you can use this as your evidence, proof as such - otherwise you risk paying capital gains on your profits.

I am Ok with paying taxes. I just wish it was done in a different way. In some countries, they just tax it when you buy it and sell it. Just a flat tax...Maybe .01%.(buy and sell) Some just have no tax at all.
http://www.taipeitimes.com/News/front/archives/2015/11/18/2003632719. I am sure there are more like this.

Indeed... I wish in the US there was one tax rate for capital gains, and rather than having to mess around with each transaction, you could merely take all the gains and losses from the entire year and just do a single entry. Tax time is going to be a pain in the ass. I'll worry about it at that time. :\

VIA has caught up to my other 2 holdings that are nearby in marketcap, bitbay and blackcoin, making it my largest dollar value holding on poloniex. There's still some big whales interested in this one.