Inland Revenue has provided an update on its guidance of how it treats what it calls “cryptoassets” at: https:\/\/www.ird.govt.nz\/cryptoassets<\/p>\n\n\n\n
A link to the IRD media release can be found at: https:\/\/media.ird.govt.nz\/articles\/new-inland-revenue-guidance-on-cryptoassets\/<\/p>\n\n\n\n
The high level summary is:<\/p>\n\n\n\n
There are no special tax rules for cryptoassets in New Zealand. The guidance clarifies how ordinary income tax rules apply to cryptoassets to help people understand their tax obligations.<\/p>
Essentially, cryptoassets are treated as a form of property for tax purposes. What people make from selling, trading or exchanging crypto-assets is taxable<\/p><\/blockquote>\n\n\n\n
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