So you changed BTC to AUD on your wirex account, right? When creating that account did you had to give your tax number/details?
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So you changed BTC to AUD on your wirex account, right? When creating that account did you had to give your tax number/details?
That is correct. It takes other crypto's also. Yes, I had to give them my address, name, phone, email etc. Not my TFN though. It is like any other credit card, they all require proof. I had to also nominate a photo ID, I used my divers license, which they have a copy of; They do it that way to prevent money-laundering. It is a requirement of the Australian Tax Office and Wirex wouldn't be able to operate in Australia if they did not do this. I'm not sure for other countries but here it is a requirement.
It´s the same with my bitwala card. I was only interested in whether it is the same with yours. Of course they do this otherwise we could spend our crypto without paying taxes. 😏
Are you able to create an interest account for your bitcoins? I just learned that this is possible for my card. 4.5% subject to weekly change
I think they'll all be similar in this way...As dumb as most governments are, they know what's up when it comes to their taxes.
I'm not sure about the interest account to be honest. I'll look into it.