Right now, my gut is saying to just HODL and post, curate, delegate and stake until next pay day from the day job and assess from there. If I sell it back to fiat, becomes a taxable event and all that shit - HMRC is a diva!
However, the thought of being able to buy Buckingham Palace from HIVE earnings is quite a tempting one lol! That alone is enough to go crypendicular!
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Lmao, I forgot the tax laws in your country grabs you by the balls. Around here, we just buy and sell our shitcoins udisturbed by our corrupt government.
When I eventually leave Nigeria, I'm going to keep all my crypto activities, including my KYC in exchanges and everything in Naira, at least until I can find an
illegalsavvy way to circumvent tax laws.Getting rich off Hive earnings would be wild though.
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Yeah man, that's how it used to be here but I reckon where there's money to be made through taxation and other governments see how it work then they'll adopt it as well. For now though, enjoy the free ride!
Oh yeah, staking and earning off the rewards it produces is the name of my game. You get to have your stake and eat it!
So what if you gift someone your account, then the person sells the assets inside and gives you the money as "thank you", do you still get taxed?😁
As far as I know and my somewhat limited understanding of it all, if you gift someone your account, it would be classed as a disposal (taxable event). Then if that person gave it back to you, you'd need to then make a note of the market value at that time and keep it in mind for when you dispose of it later on.
Crazy stuff to get your head around man 😂
Mehnnnnnn....😂😂😂
Sexy stuff this isn't it? 😂