Due to the Covid-19 lockdown and spare capacity (to be able to work from home), we have scheduled a free cryptocurrency tax webinar where we invite users to submit questions (live) and we will answer them. The webinar will be…
Author: Tim Doyle
Tax Overview: Staking Cryptocurrency
This article outlines the income tax treatment of cryptocurrency staking income. It includes examples of how cryptocurrency staking rewards are taxed as well as disposing the underlining crypto. Staking cryptocurrency is becoming more popular with specific providers such as Celsius…
How to create APIs for your cryptocurrency exchanges
We have updated our internal cryptocurrency accounting systems so we can receive a read only API (application programming interface) from you. This will include all your exchange trading history and import directly into our accounting system. Previously we have requested…
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NZ Government launched cryptocurrency inquiry to understand benefits and risks
An inquiry into the nature, impact and risk of cryptocurrencies has been announced by Parliament's Finance and Expenditure Committee. It will look into the nature and benefits of cryptocurrencies as well as the risks to both users and Aotearoa as…
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Podcast: How cryptocurrency will be taxed with Tim Doyle
Cryptocurrency was once a concept linked to the dark web, apparently untraceable and outside the purview of governments. Obviously, the creators of cryptocurrency never counted on the tenacity of the taxman. We talk to leading cryptocurrency tax consultant Tim Doyle…
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How Trading Cryptocurrency Affects Profitability – Part 2 of 2
This is part 2 of our series of articles 'how a trade can go from bad to worse'. We recommend reading part 1 which outlines this core concept, and this latest article builds on the foundational principle. All tokens of…
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Why Is Cryptocurrency Taxable?
If you are purchasing cryptocurrency as a speculative investment to make money, you likely accept that any profits are taxable income. Likewise, if you are in the business of dealing in cryptocurrency you likely accept that business profits are taxable…
Accountant – Intermediate/Senior with an interest in Cryptocurrency
Company: Evans Doyle Limited Location: Cambridge Type: Full time, This is an exciting opportunity to join NZ leading cryptocurrency accounting firm. We service cryptocurrency taxpayers involved in multiple activities from $50k to $50m invested. Rapid growth in the business brings…
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How a trade can go from bad to worse – tax implications of making cryptocurrency trades – Part 1 of 2
This article outlines how a loss-making crypto trade may result in a combined profit (and subsequent tax to pay). Yes, this may seem strange, almost unfair, and the entire cryptocurrency portfolio including historical cost basis needs to be considered. We…
2021 End of Financial Year Cryptocurrency Tax Checklist
The end of the financial year is 31 March 2021. This article outlines suggested actions for end of year record keeping and accounting. We recommend you action this today! It will save you time, costs, and unnecessary complexities. The financial…
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