Hello all,
I'm considering purchasing Bitcoin under a Pty Ltd company structure and was hoping to get some advice or hear about experiences from others who’ve done this. Specifically, I'm interested in:
Tax Treatment: How does holding BTC under a Pty Ltd compare to holding it personally when it comes to taxes?
That you're buying a speculative asset under a company structure , and can't do a simple google search for the ATO website is impressive
I'd argue it's par for the course for the average crypto bro LARPing as a business exec.
What you want is a family trust so you can stream the dividends and franking credits (yeah the joke is there is no dividends and franking credits with bitcoin).
Companies do not have capital gains discount so you want to pay companies tax rates then then pay yourself a dividend and that is taxed at marginal tax rate.
You're banking on bitcoin going up, but what if you ever need to sell it all at a loss, what structure of ownership is best for that outcome?
If you have a company with enough assets to buy btc I'd hope you have enough $ for an accountant
But
https://www.ato.gov.au/businesses-and-organisations/income-d…
And
https://www.ato.gov.au/businesses-and-organisations/assets-a…
That you're buying a speculative asset under a company structure , and can't do a simple google search for the ATO website is impressive