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You pay tax with bitcoins?! On the serious note I think the tax implication is similar to foreign currency income/investment. (Sorry I don't know the ins and
by ww520 14y ago
You pay tax with bitcoins?!
On the serious note I think the tax implication is similar to foreign currency income/investment. (Sorry I don't know the ins and outs of international commerce and can't give you a definite answer.)
- zhoutong 14y agoTechnically it's trivial to use Bitcoin to hide income. However NameTerrific is a GST-registered company so we (have to) openly collect taxes from Australian residents, even for Bitcoin payments.
- betterunix 14y agoIt is only trivial to hide income using Bitcoin if you never plan to spend your income. Otherwise, you have the same problem you have with paper money should you be audited or otherwise attract government attention.
- zhoutongd 14y agoZhouTong is a thief and con man. https://bitcointalk.org/index.php?topic=95738.0 https://bitcointalk.org/index.php?topic=95738.0 He WILL steal your money. Do not trust him.