February 2020 – Cryptocurrency Tax NZ

Cryptocurrency GST & Financial Arrangements – IRD Update

Posted by Tim Doyleon February 26, 2020February 26, 2020in Cryptocurrency Tax, IRD UpdateLeave a comment

IRD have released a consultation paper about an exclusion of GST and financial arrangements to cryptocurrencies. In summary, IRD propose to exclude GST and financial arrangement rules from cryptocurrency retrospectively from 1 January 2009. This is positive news for New…

Cryptocurrency Tax Loss Harvesting

Posted by Tim Doyleon February 7, 2020February 7, 2020in Cryptocurrency Tax1 Comment

Understanding the tax consequences of selling cryptocurrency is an important aspect for cryptocurrency investors. The sale is a key event which crystallises a taxable gain or loss. Until the sale, the gain/loss is “on paper” (or online), telling you how…

Changing from Trading to Holding Cryptocurrency

Posted by Tim Doyleon February 4, 2020February 4, 2020in Cryptocurrency TaxLeave a comment

After the peak of the cryptocurrency market in 2017, many individuals were actively involved in trading cryptocurrency. The market was increasing at a rapid pace and there was significant hype surrounding cryptocurrency. Individuals would be trading multiple tokens, using multiple…