Hi guys just an introduction I am a 19 year old that made a good amount of money through luck and skill recently.
So a few months ago I deposited 3k into binance and used that to trade memecoins or sh$tcoins on uniswap. The problem is that I have conducted thousands of trades through multiple wallets and have turned that 3k into 250k and don't know how to figure out the tax to cash out. I have 0 AUD fiat and don't know how I'm going to get a professional accountant so please help and direct me.
The problem is that I've got thousands of transactions that I cannot track back on the price so can I just declare the tax based on the initial 3k deposit and 250k portfolio worth? Also if I were to pay for this tax I would have to withdraw my crypto to pay for it correct? Which means I would also have to pay the disposal tax aswell, which is a major dilemma. I worked really hard for these gains and want to save as much tax as possible. I currently hold most of the crypto in eth and if I were to hold it for a year am I still eligible for the 50% off discount even though I've traded the sh$tcoins into eth in less than 12 months? I really plan to hold the crypto and do not want to pay the tax on it yet since if I were to pay the tax I'd have to sell my eth which could be worth 10x in the next year. Is there any way possible around this. Someone please help a desperate kid cash out on his hard work.
Thank you all so much
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