[Optional]

Saw this on ABC news tonight. So figured they must have checked out it is bona fide.

Only opened 1 week ago.

The advantage of this place over all other exchanges I see for Australians is that they actual work in US$ as the primary currency and claim to do currency exchanges cheaper than the major banks. So under 1.5%.

If I want to use a book that does not take AU$, right now it costs 4.5% when I deposit for Skrill to convert the currency to US$ or Euros and another 4.5% every time I withdraw. So 9% total using Skrill to move money from 5D to Greek, for example.

This place appears to have buy price pretty much in line with coinbase as well, whereas the other Aussie exchanges I see load the buy/sell prices.

I am going to give it a try.

be interested to hear reviews from any of the bitcoin experts around here.

www.independentreserve.com

[Domestic]

I made an account and got verified on the day it came out. The interface is very nice but I have not made a deposit there yet so I can't say much.

I plan to use it more for just general buying of bitcoins as they do not suffer from having to enforce the GST.

[Optional]

I made an account and got verified on the day it came out. The interface is very nice but I have not made a deposit there yet so I can't say much.

I plan to use it more for just general buying of bitcoins as they do not suffer from having to enforce the GST.

I've never heard of GST applying to any form of currency trade, but whats the story? Do other exchanges need to charge GST? If so, why doesnt this one?

[Domestic]

https://blog.coinjar.com/2014/09/30/...coinjar-users/

tl;dr: When you buy bitcoin from an Australian company you now pay the GST. You can get around this by buying at btcmarkets.net as you buy from other sellers rather than btcmarkets.net themselves so they are basically exempt. It is the same story with Independent reserve and is explained here: http://www.reddit.com/r/independentr...market/clffdil

Of course the other option is to just buy in person from people using local bitcoins.

[Optional]

https://blog.coinjar.com/2014/09/30/...coinjar-users/

tl;dr: When you buy bitcoin from an Australian company you now pay the GST. You can get around this by buying at btcmarkets.net as you buy from other sellers rather than btcmarkets.net themselves so they are basically exempt. It is the same story with Independent reserve and is explained here: http://www.reddit.com/r/independentr...market/clffdil

Of course the other option is to just buy in person from people using local bitcoins.

Well that sucks.

Hard to believe the tax office seriously thinks they can charge GST on currency as a 'good'. Surely that will be over turned on appeal. Sounds like an attack rather than a proper guidance ruling.