How to declare what is happening with Celsius

How do we declare what has happened with Celsius and Luna UST for Australian Tax purposes. I had most of my gains for the year in UST and in Celsius and now they are either gone (UST) or locked and I have no idea if I will see that money again. I assume the government will expect me to pay taxes on that, yet it could end up being a huge loss. What do I do for both these situations?

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Hi Brian - I feel your pain! I too have been dreadfully caught out by Celsius - in just so many ways!.
Unsure what tax rules are in Oz - but here in NZ I will be expected to pay the tax on the interest earned (even though it’s all locked on Celsius, along with the deposited amounts) I can’t claim anything back as a loss until the bankruptcy runs its coarse. As in their eyes I have not lost anything as yet!!! Another Tough Pill to Swallow


My very problem- I had most of my last 2 years gains in Luna. Massive gains as I bought near $1 and it went to $100+. Then, in this tax year: Puff…

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