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Audius Coin
in Australia
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FAQ
Frequently asked questions
The Audius initiative is unique and has the power to change the music industry totally. The platform aims to introduce a new sector with a $13 billion annual market. On the other hand, celebrities like Katy Perry, NAS, and Jason Derulo announced that they are investing in the AUDIUS platform. It shows that Audius could bring a bright future for its stakeholders.
According to the crypto asset transactions guide by the Australian Government, Capital Gains Tax should be considered when you dispose of your crypto asset. If you make a capital gain after a disposal, you may pay tax on it. A transaction involving a disposal takes place when you do any of the following: sell a crypto asset, gift a crypto asset, trade, exchange or swap a crypto asset for another crypto asset, convert a crypto asset to Australian or foreign currency (otherwise known as fiat currency), and buy goods or services with a crypto asset.
According to the crypto asset record keeping guide by the Australian Government, you must keep records of each of your crypto assets and every transaction, to work out whether you have made a capital gain or loss. For your crypto assets, you should keep: receipts when you buy, transfer or dispose of crypto assets, a record of the date of each transaction, a record of what the transaction is for and who the other party is (this can just be their crypto asset address), exchange records, a record of the value of the crypto asset in Australian dollars at the time of each transaction, records of agent, accountant and legal costs, digital wallet records and keys, a record of software costs that relate to managing your tax affairs.
Roneil Rumburg and Forrest Browning are both computer scientists, and they are the professionals responsible for co-founding Audius. Roneil Rumburg is the main founder of the Audius platform. He was also an engineer at the KPCB Edge project.
It is estimated that 0.9 million people, 3.4% of the total Australian population, currently own at least one form of cryptocurrency.
Ledger, Trezor, Trust Wallet, and Atomic Wallet are among the best wallets to keep your AUDIO coins safe.