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Join date: May 3, 2022
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You can wager in Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM). They offer options to wager on nearly any sporting event that you can think of, review. They also offer all new players a generous sign-up bonus. For those who are used to playing more traditional casino games like roulette and blackjack, bingo can be a fun and light-hearted new gambling experience, review. If you are found to be undertaking commercial business like transactions then similar outcomes apply. Otherwise, your outcomes are treated on capital account and any losses cannot be offset against assessable income. If the amounts are capital, section 118-37 of the ITAA 1997 provides that gambling is not taxable for CGT purposes. If you would like a more tailored response about the taxation of your spread betting activities, you can write to us to request a private binding ruling. Private rulings are binding advice from us that explains our view on how tax law applies to a specific situation, review.

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