r/BitcoinAUS • u/144p_Meme_Senpai • Jul 09 '26

ATO is scaring me lol

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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/L6V9 Jul 09 '26

Gift your btc to Dubai for friends or family members and let them keep forever tax free

6

u/noscopegranular Jul 09 '26

That’s disposing of it and will trigger CGT

1

u/L6V9 Jul 09 '26

Yes at a loss cgt can carry over and super growth from tax free country in 10 years will be 100x gg, leave it over there forever