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Crypto and tax
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<blockquote data-quote="Swinging &amp; digging" data-source="post: 610057" data-attributes="member: 2764"><p>Losses can be used to offset future capital gains, but you need to keep accurate records.</p><p>Eg lets assume you lost 10K this financial year, next financial year you make 11K profit.</p><p>11k-10K, gives you a 1K taxable investment position.</p><p></p><p>Basically what ever applies to Tax treatment on shares is applied to cryptos, no franking credits though.</p></blockquote><p></p>
[QUOTE="Swinging & digging, post: 610057, member: 2764"] Losses can be used to offset future capital gains, but you need to keep accurate records. Eg lets assume you lost 10K this financial year, next financial year you make 11K profit. 11k-10K, gives you a 1K taxable investment position. Basically what ever applies to Tax treatment on shares is applied to cryptos, no franking credits though. [/QUOTE]
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Crypto and tax
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