Opportunity cost

[mmm....shiney!]

The opportunity cost of not owning BTC.

These are short term charts, they look even uglier as the time frame gets longer. Only XRP is looking anything close to acceptable, but on the 10 year you get a better perspective.

ETH holders should've bailed by now. The alternative is to just hold what you have and offset the losses at some time in the future with any capital gains you are liable for if you sell BTC. I don't think capital losses in one asset class can be applied to other asset classes eg losses in crypto can't offset gains in precious metals or shares.

 

[mmm....shiney!]

Silver:

 

[mmm....shiney!]

ETH:

 

[mmm....shiney!]

Fcuking XRP:

 

[mmm....shiney!]

Gold:

 

[Oddjob]

I don't think capital losses in one asset class can be applied to other asset classes eg losses in crypto can't offset gains in precious metals or shares.

Yep...has to be like for like asset for tax offset.

 

[Polar.bear.Stacker]

Yep...has to be like for like asset for tax offset.

Why is that?

 

[mmm....shiney!]

Yep...has to be like for like asset for tax offset.

Actually I'm not so sure now:

Your client can also choose which capital gains to subtract the losses from, with the exception of collectables. Losses from collectables can only offset gains from collectables.

https://www.ato.gov.au/tax-and-supe...s-newsroom/the-need-to-know-on-capital-losses

So crypto losses can be applied to share losses etc?

But any losses in collectables eg PM Lunars, RSC Macaws etc can't be applied to losses in generic bullion?

 

[Oddjob]

My take is that is has to be same asset class but happy to be wrong on that and accelerate some losses for 30 June v other profits.

 

[mmm....shiney!]

I'll ask my accountant for clarification.

 

[mmm....shiney!]

@Oddjob and others, my accountant's advice:

In Australia, capital losses from assets like shares, crypto, and property can be used to offset capital gains from any CGT assets (expect collectables).

However, capital losses from collectibles, such as art, jewellery, antiques, and rare coins can only be used to offset capital gains from other collectibles, not from other asset classes. These collectible losses can be carried forward but remain restricted to offsetting collectible gains only.

Excess capital losses cannot be used to offset regular income, such as wages, salary, or business income etc, but can be carried forward indefinitely to offset future capital gains.