The problem with this is tax liability is based on physical residency, not holdings location. The person would need to be resident outside Australia for more than 50% of a year to avoid liability here. So while the above may work in practice, it does expose one to fines by the ATO.

T

Thanks for the reply Bones. I'm still looking into it. Yes I'm with BTC Markets as well and was able to get an account levelled up to withdraw $20K per day when the time comes. What I will say is I've only used BTC Markets as I like keeping track of transaction history and can provide evidence when required if the ATO comes knocking on the door. What I've also planned is not to touch my current stack of XRP when i purchased at 0.19c for at least a year and I should be good to get a 50% waive on CGT. But will check with a professional tax consultant prior. Again thanks for the input. Cheers

Good question Pat. I've just gone through this process with https://www.btcmarkets.net/ Transferred some XRP to my BTC Markets account over the holiday. Sold for AUD on their exchange (which still has very low liquidity, so beware of placing any "market" orders!). Started the withdrawal process for AUD yesterday (note: was a public holiday). I was withdrawing to a Commwealth Bank personal account. Withdrawal immediately went "pending", and today around midday was flagged "processed" and this evening the amount appeared in my Comm Bank account. Not bad, as I'm sure they were VERY busy today, however it was only for $2,000 so I'm not sure about larger amounts etc.. There are others which I haven't tried, for example https://www.coinspot.com.au - seem to offer a vast range of coins to exchange, but only accept deposits for a very limited range? https://www.livingroomofsatoshi.com/ - interesting one, claims to be able to pay Australian BPAY bills, or bank and credit card accounts. Seems very pricey to me though, even though they claim differently.

Hi, Looking for some advice to slowly take some profits possibly next year. Can any Australian members with EXPERIENCE recommend a preferred exchange or method to withdraw to fiat? Recommend some other methods? Please explain. Amounts per month could vary between $2K and or up to $20K. It's good to have a plan in place if I decide to do this. Thank You

Hi guys just wondering as i've noticed a lot of small buys and sells, so not sure where they come from 100XRP, 250 XRP also what the hell are the bold buys and sells? arbitrage??

If you need to get in on something quick with some fresh fiat btcmarkets spread is negligible. So I agree with bones. Good for cashing out slowly to fiat though just depends how the market is moving so it can be quick. Take a look at the move from 21c AUD to 27c AUD for XRP. Well above market rate USD wise and I guarantee you people made good money on that. Make use of it.

Thanks Bones, I use them regularly find them very good. Spreads aren't to bad compared to others like CoinJar , I use Poloniex to buy some alts. I had a issue with Shapeshift in an exchange, but all good! The experience has been great so far. Cheers Wardstar

I use them, but not very often. Their liquidity/activity is still very low, and so their spreads are massive. Otherwise it was quick (VERY quick) and easy to sign up with a fully verified account as an Australian resident.

Mate, unfortunately not I'm in SW WA and whilst I'd love to catch up it'd add another 3 hours on my trip to Perth to catch a plane. I'll endeavor to try stop over on my next fly over to Hong Kong and we can catch up if the stars align. Great to hear of other Aussies getting involved.

Do any of you Aussie's use BTC markets to buy their Ripple? If not, is there a reason not too? Cheers Wardstar

Repping Sydney here

Yeah too far to fly over for free beer from Perth , but when I am there I will come down and have a beer with ya boofhead!! Cheers Warstar

oh - And go the Fkn zerps!

Me too if your in Melbourne come down to https://www.blockchainglobal.com/ every Monday and Wednesday night we have a talk and trade night - FREE BEER every time, yes FREE BEER, we have our own bar - Satoshis Bar For more info https://www.facebook.com/BlockchainGL/

Just wanted to make sure all you Aussie investors are aware of flashfx, my experience is second to none and they use Ripple/XRP to get funds to the UK in 4 seconds.

Yeah that's cool I've managed to get quite a few Aussies into XRP so far. Just doing my bit.

No come back and spread some vegemite on that toast.

I will leave the group so you guys do what it is you guys do when the rest of the world isn't around... FYI, I just conducted the first international ripple forum raid.

Yeah, there is a few of us here

G'day all. So... Is anyone in this group actually from Australia?

That's what I get for signing up to a club before the descriptor is added. Sorry Aussie cousins, I didn't mean to intrude! I was wondering what vegemite was...

Maybe have a none forum moderator join and try club moderator tools

Tested the pin and feature