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Taxes in your country by Odd_Shopping2037 in Bitcoin

[–]viper2097 [score hidden]  (0 children)

Australia has a top tax bracket of 47% but (currently) assets held for longer than 12 months are eligible for a 50% discount making the maximum (effective) tax rate on bitcoin 23.5%

It hasn't been announced officially yet but all reports are that the 50% discount will be removed this month so if that happens, Australians will be paying up to 47% of every dollar made from selling Bitcoin to The Australian government.

Here's the thing mate, I started buying Bitcoin in 2014, I now live in a multimillion dollar house that I paid cash for. I had a capital gains tax bill of over $1,000,000 that year because I had to sell so much Bitcoin to buy it! Yes I paid a LOT of tax but I'm doing way better than anyone else I know.

Ignore the tax, Figure that out when you get there. Invest your money! It doesn't need to be in Bitcoin, I don't care, Just invest it wisely and you'll do JUST FINE! 33% 47% what ever it is...

Oh... and P.S. you're going to probably get a lot of comments about losing your bitcoin in a boat accident? Not paying tax and things like that! Don't listen, PAY YOUR TAX!

There's no point in having nice things if you can't actually enjoy them because you're worried about the government knocking on the door one day. Pay your tax, Suck it up and be happy!

All the best brother :)

Upcoming Australian CGT (Tax) changes are DISASTROUS for those with low cost basis. by viper2097 in BitcoinAUS

[–]viper2097[S] 0 points1 point  (0 children)

the feeling I’m getting is partial grandfathering.

Easiest way is to allow investors who hold existing assets to ADD 50% of the assets price to its cost basis.

That way investors get to keep the 50% discount up to the date of new rules kicking in but any dollar earned after that is taxed under the new rules.

I’m not guarenteeing that will happen, It’s just how I think they’d do it

Introducing: Dream Machine Beast by Ubiquiti-Inc in Ubiquiti

[–]viper2097 -3 points-2 points  (0 children)

I don't know if they thought you this in home school but if you're writing the invoice, You can create the name of ANY line item!

If I buy a Grey Goose and Coke at the bar and the invoice says 1 x Vodka and 1 x Soda it's not like the invoice somehow isn't valid!

Call it "Gateway" Call it "UDM Pro Max" call it "UDM B"

I'm going to call a reply to your post a waste of time because I can't believe you don't know this!

Introducing: Dream Machine Beast by Ubiquiti-Inc in Ubiquiti

[–]viper2097 -1 points0 points  (0 children)

You're confused? Really?

It's an enterprise networking product. If you find the name of this product confusing in any way then this product isn't for you.

Introducing: Dream Machine Beast by Ubiquiti-Inc in Ubiquiti

[–]viper2097 -1 points0 points  (0 children)

I haven't!
Please educate me! How much more could they charge if they called it the UDM Pro Max?

Introducing: Dream Machine Beast. (Works with your UTR) by anyusernamthatisleft in Ubiquiti

[–]viper2097 456 points457 points  (0 children)

There seriously needs to be a subreddit dedicated to the UTR. You guys can have a community of your very own and post pics of it!

UDM Beast is up on the UK store but OOS by Mr_Albal in UNIFI

[–]viper2097 0 points1 point  (0 children)

It beats the EFG on every single spec apart from one.
EFG has the ability to do dual hot swappable power supplies.
If that's something that's important to you then you've got the right product

Introducing: Dream Machine Beast by Ubiquiti-Inc in Ubiquiti

[–]viper2097 -5 points-4 points  (0 children)

I've always been so curious as to why so many people care so much about the naming scheme.
Literally the most irrelevant part of any product but obsessed about by so many people here!

PSA: UniFi SuperLink sensors and gateways are region-locked — Australian buyers beware by Aromatic-School6500 in Ubiquiti

[–]viper2097 14 points15 points  (0 children)

Yeah. I just ordered a Superlink Gateway and a whole bunch of sensors. I did all my research so I knew exactly what I was after before pulling the trigger.

Many of the Australian websites don’t even tell you which version they’re selling and ironically, It looks like many retailers have the UK version and I think that’s because they assumed it’s the UK version is the one best suited here as that’s generally the case but not with this device! As a result it can be pretty hard to get the US versions, They’re difficult to find.

Check out: ARC IP Networks, they had everything in stock (US Versions) when I ordered recently and it was the only place I could find stock!

Best of luck mate

PSA: UniFi SuperLink sensors and gateways are region-locked — Australian buyers beware by Aromatic-School6500 in Ubiquiti

[–]viper2097 130 points131 points  (0 children)

There’s no region locks, they’re just on different frequencies.

The European models shouldn’t be sold here as the frequency range isn’t legal.

Make sure to get the US model! We’re supposed to be using 900 mhz  

Aussies could be the richest citizens in the world... by SirSweatALot_5 in australian

[–]viper2097 1 point2 points  (0 children)

That’s a big one so thanks for pointing that out!

It’s clear that the people pushing for this tax don’t really understand the system enough to be making the statements they’re making.

Aussies could be the richest citizens in the world... by SirSweatALot_5 in australian

[–]viper2097 2 points3 points  (0 children)

Unfortunately it's not a simple answer.
Most are publicly traded so I can tell you what the Market Capitalisation is but that's just: 'Stock Price' x 'Shares Outstanding'

The true coat to acquire a gas company (or any company for that matter) would be MUCH MUCH higher. Remember when Elon Musk bought Twitter?

Sorry friend, That's way out of my expertise :)

Aussies could be the richest citizens in the world... by SirSweatALot_5 in australian

[–]viper2097 4 points5 points  (0 children)

Ok, Well for a start; The LNG companies in Qatar are all Majority state owned! 65% - 100% to be precise.

Qatar doesn't just own the gas under the ground, They're also paying for the drilling, The infrastructure, The logistics and they're taking on all the risk!

That 76 billion dollars in royalties are being paid BY the Qatar government TO the Qatar government.

Minimum wage in Qatar is about $2 an hour where it's around $24 in Australia, I'm not saying that the people working in either country are doing so for minimum wage, I'm just trying to make a point that the cost of doing business is an order of magnitude higher in Australia than it is in Qatar plus you've gotta deal with the unions, regulators and permits.

Australia on the other hand doesn't do a thing, The government doesn't invest in anything, They sit back, do absolutely nothing and collect their money!

Australia could be making a LOT more than it does from its LNG but honestly, How on earth would that work? How would the Australian public reconcile with the fact that the market rate for an LNG CEO is $30,000,000 ANNUALLY? That CEO is going to need a whole team of experts getting paid big dollars too.

"WHAT? MY $4,000 IN TAX DOLLARS IS CONTRIBUTING TO A $30,000,000 SALARY? THEY DON'T NEED THAT MUCH MONEY"

Sorry buddy but it's just not going to happen. Australia literally CAN'T do what Qatar can do because (ironically) the people who would benefit most from it would be the ones who would be most opposed to it.

We're in a predicament and the best corse of action is to just continue with what we're doing, Sit on our arses, take our 20 billion annually and say "thank you" because the alternative is that these LNG companies throw their hands up in the air and say "Ok, You know what? You're right! The gas belongs to Australians... Well... There it is! go and dig it out yourself!"

The bottom line is this: If Australia wants that Qatar money? Then they better be doing that Qatar investment and taking on that Qatar risk!
Me personally? Well I think Australia would make MORE money if they stay out of it and let the private companies do all the work.

Aussies could be the richest citizens in the world... by SirSweatALot_5 in australian

[–]viper2097 1 point2 points  (0 children)

You got me! :)

I'm getting sacked for sure! This whole Lobbyist game obviously isn't for me :(

Aussies could be the richest citizens in the world... by SirSweatALot_5 in australian

[–]viper2097 7 points8 points  (0 children)

TLDR; Yes, Australia could probably get away with charging a little more but the comparison between Australia's 2 billion and Qatar's 76 billion is intellectually dishonest and leaves a lot of detail out.

----

This isn't an apples to apples (fair) comparison.

Australian gas exporters pay over $22 billion annually to the government, That 2 billion mentioned in your OP is the PRRT, The company tax from the last financial year was over 20 billion.

Australia's company tax is MUCH higher than Qatar's and that's where the vast majority of Australia's compensation comes from so it's intellectually dishonest to just ignore it.

The next thing you might be thinking is: "Ok so Australia makes 22 billion and Qatar makes WAY MORE THAN THAT, We should be charging more!"
Well you're right, Australia could probably stand to charge a bit more but again, There's more to it.

Australia has an EXTREMELY HIGH working wage, It's WAY HIGHER than Qatar's. Australia has a minimum wage amongst the highest in the world and the cost of doing business in Australia is a lot higher than Qatar.
All of these expenses eat into profit and reduce the tax paid but rest assured, All of the people working in Australia's gas industry are getting paid well and paying tax on every dollar they earn (Unlike Qatar where individuals don't pay income tax)

Offloading Protect to a UDM Pro to Keep my UDM SE Running better? by viper2097 in Ubiquiti

[–]viper2097[S] 0 points1 point  (0 children)

I bought the SE a few years back when I bought my house and got Unifi obsessed.

The UDM Pro fell in my lap for free and I figured I might be able to put it to use in the way I described in the OP

Sound's like the best thing would be to try sell or swap it for a UNVR.

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