I moved to Australia recently, i have crypto assets that I have invested way before. When i try to liquidate the crypto assets via any of the Australian exchange will i need to pay the tax ??
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Hi @Scrodrigues,
It will depend on your tax residency status. Check out our info in our articles:
Come back if you're not sure.
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You gotta pay tax somewhere. Either the original country or the new country. If no tax was owed after moving country then I'd go long Airlines as they serve this massive loophole.
Your purchase while living in another country was made while you were for taxation purposes in that country. When you dispose of it then that country is owed some taxes. It was an investment made there so they'll be expecting some money to pay for nurses and doctors.
Australia would like to take that income but due to some international agreements loopholes get closed. Dubai has no tax on crypto. So If I do a day trip to Dubai once a year to sell everything will I owe no taxes on all the stuff I bought while living in Australia? No. Buying while in a country is also investing while in that country.
Hi @Scrodrigues,
It will depend on your tax residency status. Check out our info in our articles:
Come back if you're not sure.
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