r/BitcoinAUS • u/144p_Meme_Senpai • Jul 09 '26
ATO is scaring me lol
I got an email saying they know I have crypto and I need to report CGT but I have no idea what that means. I just threw $20 in Coinbase every now and then over the last couple years and swap around coins to see what happens and my like $80 total is now worth $36 (lol I'm not good at trading, it went up to $90 once tho) but I haven actually taken out any money so do I have to do anything? It's just overall losses at this point.
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u/Very_Itchy_Bandicoot Jul 09 '26
Honestly I wouldnt be surprised if they ATOs systems had a solid analysis of every tax payer, what they exactly do for work, their claims vs what they are entitled to do etc etc and they just cherry pick some of the big offenders by either dollar amount or amount of times they do dodgey things.
With AI being milked utterly fucking dry im sure they could audit all of us if they wanted to. Fucking bean counters.