Australia how to cash out without paying taxes?
There is currently no way of avoiding paying crypto taxes in Australia. However, it is possible to route your crypto to a country with very low or no crypto taxation to cash out. This approach is an easy and legal way to reduce the cost of cashing out your cryptocurrency.
Regarding cryptocurrency investments in Australia, Capital Gains Tax (CGT) is relevant. You should document your profits and losses within your Income Tax Return and settle Income Tax based on your net gains. If you hold the cryptocurrency for a year, you can qualify for a 50% reduction. If you’ve sold, traded, or earned cryptocurrency during the previous financial year, ensure you disclose it in your ATO tax return.
ATO INDIVIDUAL INCOME TAX RATES 2022–2023
| Income | Tax Rate |
| $0 – $18,200 | 0% |
| $18,201 – $45,000 | Nil + 19% of excess over $18,200 |
| $45,001 – $120,000 | $5,092 + 32.5% of excess over $45,000 |
| $120,001 – $180,000 | $29,467 + 37% of excess over $120,000 |
| $180,001+ | $51,667 + 45% of excess over $180,000 |
Resource: https://koinly.io/guides/crypto-tax-australia/
For more information from government site; https://www.ato.gov.au/individuals/investments-and-assets/crypto-asset-investments/
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