Hello, I was just looking for some clarification on this case scenario.
As the ATO states that the trade or exchange of cryptocurrency (including the disposal of one cryptocurrency for another cryptocurrency) is classed as an CGT event.
Scenario case: most crypto exchanges only allow for specific alternative coins to be withdrawn for AUD fiat, with some exchanges offering a larger withdrawl compacity compared to other coins.
In this scenario if someone had multiple ALT coins (alternative coins from BTC) that they've held for multiple years, and are eligible for the CGT discount, if they decided to trade these assets to a ALT coin such as Tether, or lets just say BTC as a way to sell this as part of a cash out process back into AUD fiat.
Even though you had previously been holding those assets for years, and now holding these new assest temporarly as part of the cash out process, does this affect you from receiving the CGT discount? and reset the holding of the original asset for being held for more than a 12 month peroid?