No records doesn't mean no cost base. It means a harder one to prove 👇
→ Bank statements showing the fiat that left
→ Old exchange emails
→ The receiving address on chain
Historical daily rates from a source you can name are generally workable. Write down the method you used.
What's at risk isn't the obligation. It's your claim to a loss or the discount
The proposed CGT changes have one part almost nobody is explaining.
Most coverage is about the headline rate.
The under-explained bit is how a minimum tax floor interacts with the 50% discount, because those two pull in opposite directions.
Worth reading before it's settled rather than after
OKX users 🇦🇺
Spot is the easy half. It's the rest that needs attention 👇
├ perps and margin sit in a different bucket to spot
├ earn products report the reward without the underlying movement
└ transfers to your own wallet only show on one side
Connect the exchange, add the wallets, then calculate 🤝
Franked, unfranked, and reinvested dividends all get taxed. Just differently 👇
→ Franked comes with credits for tax already paid
→ Unfranked doesn't, so it's assessed at your full rate
→ Reinvested is still income, because the ATO treats a DRP as being paid and then buying
None of them are optional 🇦🇺
Got an email from the ATO about crypto? 👀
First thing worth knowing: a nudge letter is not an assessment. It's a prompt to check, not a finding.
├ don't ignore it
├ don't panic-amend before you've reconciled
└ do get your records straight first
The order matters more than the speed
Got an AMMA statement and no idea what it's for? 👇
It's what a managed fund sends you instead of a simple dividend statement.
├ some of it is income
├ some of it is capital gains already realised inside the fund
└ some of it adjusts your cost base without being income at all
That last part is why people get their share sale maths wrong years later
