Hi All,
I have a query regarding a crypto presale I took part back in Oct 2021. A crypto company took my funds back in 2021 mentioning that they will launch in a couple of months. After sending them my funds in 2021 I was sent an signed agreement describing my allocation and distribution, describing me as the owner of X amount of tokens.
However, for some unavoidable reasons, the crypto company delayed the launch (token generation event) and the launch happened in Feb 2024. My funds were locked with the company in since 2021, which is almost 3 years now.
Since Feb 2024, I get my allocated tokens back as per their designed vesting schedule, which is 10% of my total allocation every month for 10 months. So I got 10% of my tokens in Feb 2024, 10% in March, and so on until it finishes in November 2024.
My question is about CGT discount and whether I am eligible for a 50% 12-month ownership requirement discount.
I had a call with a gentleman (an ATO representative) a few weeks ago and he mentioned that since I sent my funds in 2021, and it's already more than 24 months since my funds were locked, the timing of the selling wouldn't matter and I am eligible for 50% 12-month ownership requirement discount irrespective of when I sell them.
In other words, even if I sell my all some tokens in December 2024, I would still be eligible for a CGT 50% 12 month ownership discount as I invested more than 3 yrs ago.
Following his advise he asked me to post my doubt again on the ATO community to get a an official response for reference purposes.
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