One of my collegue got scammed in Crypto based Job Scam. The money was transferred from his Australian Bank Account to a Crypto Exchange and then to a certain private wallet address where another website which was a scam. He lost about A $17000 which was not returned to his wallet.
He has raised a police report on this and they confirmed the money can't be recovered at all.
He has the below details.
- Proof of money transfer from bank account to Crypto Exchange.
- All deposits and withdrawals to and from the Crypto Exchange to the other website/wallet address.
- Police report number and response email from police.
He loaded this to Koinly and tried to look at a tax report, for lost crypto we can only tag as lost but they don't show as capital loss, they show only loss for other transactions which comes to capital loss of A$ 182, but the other A$17000 is not shown.
Could you please answer the below questions.
- Can he add the lost crypto of A$17000 and capital loss from other transactions A$182, together as capital loss?
- Do we need to keep a report from external company like Koinly or the transactions and police reports would suffice as evidence?
- If we need tax report for Crypto from external company, Are the cost spent on this taxx deductible for this year, if we spend now?
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