Being a crypto bro in my home Australia means 25% corporate tax for qualifying companies, and up to 47% on the rest when I cash out.
Make a million dollars profit after taking all the risk?
• Company pays $250k corp tax → $750k left.
• Distribute (franked or unfranked) at the top rate and you walk away with roughly $530k net.
Let’s say I buy a $250k company car: I can only claim depreciation (business portion), and if I lease it over 12 months without a proper logbook, I get hit with Fringe Benefits Tax.
I get fucked in several ways, left right and centre.
Meanwhile, I stay in Thailand, paper-move my crypto, and that million is all mine thanks to 0% on crypto capital gains for 5 years via licensed platforms.
Then my money comes back tax-free and snaps up fire-sale bargains as a result of the government’s stupidity, at the cost of everyday Australians.
The thing is, I’m not an isolated event.
Capital will flee Australia, and the government will try to squeeze more blood from the stone.”