On this episode of the Unity Trading Group Podcast, we talk with Adrian Forza. He’s a qualified CPA and Owner of Melbourne Based Crypto accounting firm, Crypto Tax Australia.
This was a massively requested episode by so many people of our discord community so naturally, we HAD to make it happen and boy was this episode an eye opener!
With the Australian Government really starting to crack down on cryptocurrency tax in Australia, it’s more important now than ever that we have the knowledge to empower ourselves to make the correct financial decisions when it comes to crypto tax and ensuring that we know our legal rights when submitting our details this tax year.
What We Cover In This Epsiode
We cover a whole range of crypto tax topics in this episode and Adrian doesn’t skip a beat answering a tonne of questions from our inner circle private trading community, where he joined us LIVE for this chat.
Things like:
- How does the government classify the different between “traders” and “trading as a hobby”
- If you bought at 2k and it goes to 20k, do you pay tax on the higher amount or the entry price?
- Can you claim a % of your home, mortgage or rent if you are classed as a trader?
- Are we able to and how do we claim losses from exit scams like USI tech etc?
- Are we able to expenses for tools related to trading crypto?
Plus a whole lot more.
3 Key Points
- If You don’t understand anything, talk with an expert
- You are liable to claim more than what you think
- Ensure you keep ALL trade records and information safe, secure and ready for the tax man
Show Notes
- How Adrian got started as a qualified CPA working in Tax and the origins of Crypto Tax Australia. (1:00 – 5:00)
- Adrian discusses how the government views Crypto Tax in Australia and what we need to know the classify ourselves are “traders” or “trading as a hobby + everyone you need to know about tax laws in this country (3:00 – 23:00)
- Adrian then gets peppered with tens of questions from our inner circle members and we say PEPPERED, we mean PEPPERED! Adrian was a great sport, answering tonnes of questions from our audience as well as a number of questions on the fly from some of the UTG admins as well.
So sit back, relax, make sure to download this episode because there is a LOT to unpack in this ep.
You can Find Find our More About Adrian and Crypto Tax Australia
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