Farming is dead - long live the node-hosting volunteers

Thats what it’ll be classed as here (AU), I’d say. Income can be from almost anything that gets you money.

If you convert to GBP certainly.

There are though barter schemes that are legal and untaxed in the UK using their own units of credit. I don’t know if the Inland Revenue has ever considered or tried to tax them.

I wouldn’t rely on this, but it leaves open the possibility.

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credits denominated in tokens for re-use in the distributed network where you could rent or use other services anywhere makes it super hard for govts to do any type of comprehensive forensics on what ends being a nasty mesh of microservice settlements, so to implement a tax thru their tax buddy co. like Deloitte or similar will cost them a fortune, especially dealing with cross-border tax treaties… this conundrum in practical terms, IMO, is unsolvable at a reasonable price (=willingness of ratepayers to support such taxation BS)… :wink:

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According to this, “honorariums” for volunteering services are not assessable income in AU, as long as it is not connected to his primary income-producing activities.
As nobody here I believe is running a staking farm as a full time job…

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