Im financial and tax advisor in argentina. Here is first in first out. I dont know australian tax but here if you dont sell dont pay taxes in ganancias
what happens when you have large sums of money turning up in your account and you have to explain it? Particulary with todays laws where you must prove ownership else it is from criminal activity and can be confiscated. I say pay your taxes and be content. With that said i will never sell all my bullion, and would only get rid of it when (not if) the world returns to sound money in some form, (I would call it a gold standard, but who knows, there may be other ways of sound money) what happens then? We are all sitting here in 2023 with bullion that is now officially money, do CGT then apply? who really knows?
If you want proper advice, either contact the ATO or a accountant... I work for the ATO and that's what i've done (the second option) ps. Please don't hold it against me, however i'm sure some will
That's complete and utter BS. FUD. Fear. Uncertainty. Denial. Burden of evidence is on the accusor, not the accused. In criminal matters juries only convict if there is no doubt (different for civil matters). Even if found guilty for something it doesn't mean all your assets are stripped.
