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Topic: Australian coinjar.com to charge 10% GST on all AUD->Bitcoin sales (Read 3838 times)

legendary
Activity: 1638
Merit: 1010
https://www.bitcoin.com/
I have been using Coinjar for a couple of months now and can say that they are excellent to deal with, they have the best customer support team i have ever experienced and run a very professional company.

Easy to buy coins and easy to cash out, now with the new swipe card and BTC hedging available i couldn't ask for more.
 
Also now with them relocating to the UK = NO MORE GST!!  Smiley
Keep up the good work guys!

member
Activity: 84
Merit: 10
Excellent. I like their service and will start using them again now.
member
Activity: 115
Merit: 10
FWIW, CoinJar have now relocated to London and no longer have to collect GST.
sr. member
Activity: 267
Merit: 250
so what's everyone's advice on how we can buy Bitcoin here in Australia?

not Circle, unless you have a US based credit card or a bank account...

thanks.

Do it via BPAY, or transfer, I would say use www.igot.com, or something similar since it has a 0% buy in FEE. You could sell at other places that also have low rates or send it to your www.coinjar.com swipe debit card and withdraw it out at an ATM Smiley
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
It is interesting that *every support message* seems to be from "Eriks".

I don't think Circle should even be *trying* to expand its client-base until it gives him at least a few co-workers to help out.

Oops - I didn't even realise that this was *not* the Circle topic (seems we have drifted off topic).
hero member
Activity: 618
Merit: 500
Go Bitcoin
FYI: I tried my NAB, BankWest and St George, no go as well.....

what kinds of Credit Card did you use? to the person who successfully linked their CC to Circle?

thanks!!!!

It might be worth compiling a list of visa direct debit cards or credit card that work with circle.

I tried ANZ platinum credit visa and it was a no go. I plan to get a ANZ debit visa and try that next.
Someone posted St George Debit visa is a goer.

If people that are using circle successfully in Aussie could post their type of card it would be great.

Response from Circle

We are working hard to incorporate international partnerships that will allow customer worldwide to deposit and withdraw Bitcoin to a fiat account. While some of our non-US customers have had success linking their credit/debit cards to Circle, however, not all are supported.

At this time, we are currently optimizing our non-US support and thus don't have a fix at this time. We will provide additional information soon.

Eriks, Team Circle
newbie
Activity: 8
Merit: 0
It seems that alot of Aussies can't use Circle and some can.

If you can't, I am in the US and don't have a Circle acct but I do have Coinbase. I'd be glad to make some deals to save you the GST on the buy. My bank can accept AUD wires and I am working on an atty escrow if interested to keep it outside of LBC and I have an LBC acct as well.

feel free to email me if you are interested.

Stu
newbie
Activity: 1
Merit: 0
It might be worth compiling a list of visa direct debit cards or credit card that work with circle.

I tried ANZ platinum credit visa and it was a no go. I plan to get a ANZ debit visa and try that next.
Someone posted St George Debit visa is a goer.

If people that are using circle successfully in Aussie could post their type of card it would be great.

Response from Circle

We are working hard to incorporate international partnerships that will allow customer worldwide to deposit and withdraw Bitcoin to a fiat account. While some of our non-US customers have had success linking their credit/debit cards to Circle, however, not all are supported.

At this time, we are currently optimizing our non-US support and thus don't have a fix at this time. We will provide additional information soon.

Eriks, Team Circle
full member
Activity: 235
Merit: 100
Standard nonsensical australian government, I don't expect it will change anytime soon. Aussies will just buy overseas, and bitcoin will not be used as a day to day currency - though it still has excellent potential as a store of value
legendary
Activity: 1173
Merit: 1000
Quote
- snip -


Very Strange I have now done 7 Deposits all within 4 days. Every SINGLE one I did went in INSTANTLY.

I am From Sydney Australia

I bank with St George

I use their Visa Debit Card.


Not a SINGLE glitch has occurred with circle, although I asked for the circle invite MONTHS ago but only 1 week ago they sent an email to worldwide invites outside the US and said we are all now welcome to create an account. So this is what I did

Intetesting. Mine is visa debit also (Suncorp). Never had issues with it on paypal or skrill.
Either the bank or something to do with invite you got.

Thanks for all the info though.
Smiley


sr. member
Activity: 420
Merit: 250
GUYS You can buy from Circle if you have a Visa Debit or credit card, all you need to do is go to

Settings > Link Account > Click Next and add account.


You can 10000000000000% add a Visa debit card from NON us , everyone is doing it in europe also. I have made 5 purchase already and I am from sydney

make sure you goto Settings top left corner and then link account and then add account, if a message comes up with US bank accounts just click NEXT or continue

Hey thanks for the info. Smiley

Did your initial deposit go into 'pending' status?

I actually registered 2 nights ago. Verified email,  verified phone, linked visa, and made a deposit. But its been in pending status this whole time.

Did I miss a step/something?

Had an unpleasant experience with coinjar today so the sooner I get circle working the better.
Cheers

Very Strange I have now done 7 Deposits all within 4 days. Every SINGLE one I did went in INSTANTLY.

I am From Sydney Australia

I bank with St George

I use their Visa Debit Card.


Not a SINGLE glitch has occurred with circle, although I asked for the circle invite MONTHS ago but only 1 week ago they sent an email to worldwide invites outside the US and said we are all now welcome to create an account. So this is what I did
legendary
Activity: 1173
Merit: 1000
GUYS You can buy from Circle if you have a Visa Debit or credit card, all you need to do is go to

Settings > Link Account > Click Next and add account.


You can 10000000000000% add a Visa debit card from NON us , everyone is doing it in europe also. I have made 5 purchase already and I am from sydney

make sure you goto Settings top left corner and then link account and then add account, if a message comes up with US bank accounts just click NEXT or continue

Hey thanks for the info. Smiley

Did your initial deposit go into 'pending' status?

I actually registered 2 nights ago. Verified email,  verified phone, linked visa, and made a deposit. But its been in pending status this whole time.

Did I miss a step/something?

Had an unpleasant experience with coinjar today so the sooner I get circle working the better.
Cheers
sr. member
Activity: 420
Merit: 250
GUYS You can buy from Circle if you have a Visa Debit or credit card, all you need to do is go to

Settings > Link Account > Click Next and add account.


You can 10000000000000% add a Visa debit card from NON us , everyone is doing it in europe also. I have made 5 purchase already and I am from sydney

make sure you goto Settings top left corner and then link account and then add account, if a message comes up with US bank accounts just click NEXT or continue
hero member
Activity: 618
Merit: 500
Go Bitcoin
thanks for the link! :-)

hero member
Activity: 618
Merit: 500
Go Bitcoin
so what's everyone's advice on how we can buy Bitcoin here in Australia?

not Circle, unless you have a US based credit card or a bank account...

thanks.
hero member
Activity: 618
Merit: 500
Go Bitcoin
sayonara Coinjar!!!

made my last purchase today... $250 for 0.5 BTC , GST is applied $21 !!!!!!!!!!!!!!!!!!!!!!!!!!!!
full member
Activity: 147
Merit: 100
Farewell, CoinJar. It was good while it lasted.
newbie
Activity: 21
Merit: 0
This is some bullshit. In a sane world, GST would only be applied to the fees that Coinjar charges, not the entire amount. They're treating it as an everyday good and not a currency or even a commodity, and trying to shoehorn it into their existing rules on bartering which makes zero sense. This is going to kill (legitimate) Bitcoin adoption in Australia.

Can't agree more, I'm flabbergasted by how small-minded the ATO's guidence is. Cutting off one's nose to spite their face describes it pretty well though. And most importantly, this punishes legitimate outfits like Coinjar and actually incentivises under the counter sales, so this will actually encourage tax evasion ffs! All they've tried to do is hammer a square peg into a round hole, regardless of how much it will hurt not just Bitcoin, but themselves in the process.

Bitcoin won't get hurt though, blocks will continue to get mined and the blockchain will grow. It doesn't care.
If you mean in terms of value, the price will just skyrocket in Australia. Prohibition of any kind will just make it more valuable.
newbie
Activity: 44
Merit: 0
This is some bullshit. In a sane world, GST would only be applied to the fees that Coinjar charges, not the entire amount. They're treating it as an everyday good and not a currency or even a commodity, and trying to shoehorn it into their existing rules on bartering which makes zero sense. This is going to kill (legitimate) Bitcoin adoption in Australia.

Can't agree more, I'm flabbergasted by how small-minded the ATO's guidence is. Cutting off one's nose to spite their face describes it pretty well though. And most importantly, this punishes legitimate outfits like Coinjar and actually incentivises under the counter sales, so this will actually encourage tax evasion ffs! All they've tried to do is hammer a square peg into a round hole, regardless of how much it will hurt not just Bitcoin, but themselves in the process.
legendary
Activity: 1173
Merit: 1000
HAHAHAHAHA, ATO You stupid STUPID fools.

ATO has just destroyed BTC purchases in australia.

I just purchased from Circle, I live in Sydney INSTANT with my Visa Debit. MUCH less spread. NO  GST. and INSTANT.


Coinjar is going to die


EVERYONE in AUS - You can now buy from circle, just add your Debit card and buy instantly

How did you manage that?

I get 'at this time we are unable to link accounts from your country'.

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