Better than the previous deal posted here with the same code.
Have to pay in cryptocurrency via BitPay I think.
Couldn't be bothered. But for those looking for one, this could be a good deal
https://www.newegg.com/promotions/international/21-1372/inde…
Also if someone can post link about how to activate Bitpay on newegg, that would be great. Thanks
The ATO appears to disagree: https://www.ato.gov.au/general/gen/tax-treatment-of-crypto-c…
A capital gains tax (CGT) event occurs when you dispose of your cryptocurrency. A disposal can occur when you:
…
use cryptocurrency to obtain goods or services.
Amazing what people will believe when they want to, eh?
https://www.ato.gov.au/general/gen/tax-treatment-of-crypto-c…
Some capital gains or losses that arise from the disposal of a cryptocurrency that is a personal use asset may be disregarded.
Cryptocurrency is a personal use asset if it is kept or used mainly to purchase items for personal use or consumption.
I think he means this.
Good point, but you'd have a hard time arguing that if you just happen to have made a huge capital gain on it after holding it for six months.
Where cryptocurrency is acquired and used within a short period of time, to acquire items for personal use or consumption, the cryptocurrency is more likely to be a personal use asset.
However, where the cryptocurrency is acquired and held for some time before any such transactions are made, or only a small proportion of the cryptocurrency acquired is used to make such transactions, it is less likely that the cryptocurrency is a personal use asset.
Amazing what people will believe when they want to, eh?
No need for the sass, I was quoting (admittedly not in line with ATO it seems) a popular Australian financial podcast that touched on the topic recently. They were not clear on the difference between buying to sell and holding and then selling.
Nope - You always have to pay Capital Gains when you dispose of Crypto.
This includes buying something with it, or buying another coin with it (trading) or selling it for $$$.
All are taxable events 👍
As per the other replies, there is a "personal use exemption" that isn't relevant - it's only for buying Crypto to immediately spend on something, without holding it for any length of time.
Thanks for that.
I was looking for the details, might want to link this https://www.newegg.com/promotions/international/21-1372/inde… "save 20% off on orders over $500 USD up to a maximum of $200 USD"
Out of curiosity, why would companies exclusively accept bitcoin and not fiat?
I don't think that's what's going on here. I think you're getting a discount for using a particular payment provider.
Paid $652 at end of 2019 for one. I know there is silicon shortage and all but still doesn't seem like a deal..
Oh wow, online stores are actually accepting crypto? Imagine the surge that would occur if Amazon announced it would allow the use of bitcoin for purchases.
No chance unless they make their own PrimeCoin.
![[BitPay] AMD Ryzen 9 3900X $597 Delivered @ Newegg AU](https://files.ozbargain.com.au/n/71/633971.jpg?h=50e001a1)
My understanding of capital gains taxes is that crypto spent as "currency", like buying this CPU, is excluded as the tax is only applied when cashing out. Please correct me if I'm wrong, but for someone holding crypto which has increased in value, I think that could make this an extra bargain.