Note: IRD has now replied to our presentation. They have issues about the timing of the deductibility, and if in fact the tokens are worthless on 31 March 2023 which can be viewed here. Tim recently presented to Inland Revenue…
Month: February 2023
Crypto Tax Update (2023 Market Decline)
In recent months, we have had many difficult conversations with cryptocurrency clients about their tax liability for the 2022 financial year (from 1 April 2021 to 31 March 2022). Many of our clients made significant profits in the 2022 financial…
Tax Position on Sacrificing Tokens to Pulse Chain
Some clients have sacrificed HEX tokens with the intention to receive PULSE tokens once they are released. This article considers the tax position and the current application of the income tax legislation, draft IRD guidelines on DEFI protocols, and our…