Adventure Ausrama Blog

Everyone thought that bitcoins would remain untraceable and out of the reach of national revenue collections. This belief has proved to be fairyland. The Australian Tax Office now values bitcoins as assets to be included on your yearly income tax form. If you have millions of these things when there value increases you will have to give part of it to the Australian Tax Office (ATO) if you reside in Australia. Don't think that this is the end - it is just the beginning. Other countries are looking at making bitcoins taxable income. BitPos an Australian company which arranges an exchange and purchasing service for people dealing in bitcoins say owners have to pay the Goods and Service Tax (GST) on the full value of coins not just on the fee. This is when buying the actual "currency" itself. Because dealers say bitcoin it is not a currency it opens the door for countries to interpret it as they like. It is possible some jurisdictions will class it as c...

The world is in crisis. Illegal drugs that permanently damage users are easily purchased online. Recent research shows that when those under 16 years of age take marijuana regularly, particularly the cultivated strong variety, they are irreparably set back for the rest of their lives. Schizophrenia, is common. Furthermore, There is up to 55 per cent reduction in memory recall and decision making skills. A problem not given much importance is lung disease from smoking marijuana. Dangerous psychoactive drugs are being developed. They are very pure and untested on humans. Some are highly toxic. Because they are new there are no laws restricting their supply, so they can be openly sold in Australia. Buying drugs online is virtually anonymous. The law has limited mechanisms for checking sales. Several new chemicals are combined into a very dangerous brew. Some normal antidepressants are also added. The affects of drug interaction is unknown. Products are not checked for cons...