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Originally Posted by Mercury Bullet
Cant remember exact numbers as it was all handled by stockbroker and accountant but it was surprisingly little. Stockbroker was a family friend so got away with that for nix.I would recommend a good accountant if cashing in a decent amount though. Yes it's a cost but worth it in my opinion.
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Well, all your fees/costs are taken into account in your cost base, as is inflation, so it works in your favour, plus only declaring half your all up gain helps a lot too.
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Originally Posted by Mercury Bullet
You would still cop capital gains on coins.
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Well if you hold for over 12mths, under 12 mths it's classed as income. At least there's no GST on transactions. Also you don't get a dividend or franking credit on crypto's unfortunately.
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Originally Posted by Mercury Bullet
I rode out 3? Recessions and gfc with those shares. Would coins survive one?
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That's the $64 question. Same reservation you may've had with CBA shares at $5.40 in 1991, same as I had buying into Telstra 1 & 2, hindsight is too late unfortunately. As I say, I think Crypto's are worth dabbling in - you just have to have a strategy with investing and a tax plan thought out as well.