That's a good question, if you get yourself an accountant here in Australia you might get an answer, but probably not. That's my point I guess.
Yes, I'll need to pay tax on what I earn on Hive.
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That's a good question, if you get yourself an accountant here in Australia you might get an answer, but probably not. That's my point I guess.
Yes, I'll need to pay tax on what I earn on Hive.
this does not make sense in the slightest - there is no selling or swapping involved. I would not pay taxes on that.
Does your accountant do that? I mean this would involve e.g., blog post and comment rewards, the interest from curation as well as passive interest from the chain; and also the transactions of Hive/HBD in your account to other accounts (as well as 2nd layer tokens)? TBH this seems crazy
You're right, it makes no sense, but tax laws are laws, whether they make sense or not. People that live in this country have to comply or face the consequences.
The Hive stuff will be takes when I take it out, which I have not done yet. It will assessed as income or capital gain and taxed accordingly.
On a more general level I feel that this exemplifies the overreach and detachment of government from what the people actually want. I get that you are trying to play by the rules which is the smart thing to do. But it is also telling that the rules are made by people with power who bend the rules of the game to their interests.
I agree with you completely, it's a control mechanism I guess, a way to keep me in my place. Corporations do it too, and the little people (me) have to play along or they put me in jail, take my assets or whatever they like.
I'm not happy with it of course, and when ther s an uprising all be there; ai may even start it.
exactly; we generally accept the rules of society as they seem "natural" since they often existed before we were born. The tax situation is a very old one, in which we collectively over centuries have become accustomed to giving away capital to a "ruler" who "protects" us (which no doubt also often had its benefits)
Well said and quite true I think.