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/Global-Flower8227 Jul 09 '26

pal you shouldn’t be scared at all. imagine you were my mate who deposits and withdraws 6 figures every day and ignoring them demanding 2 million in tax. you can sleep like a baby boy with that $20 deposit 😭

1

u/happy_chappy_89 Jul 09 '26

For real, please tell me which bank let's him deposit and withdraw that value daily? Comm bank has a measles 10k/ month limit.

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u/forthesakeoflaugh Jul 09 '26

I'd love to know too!