Chartered Accountants and Cryptocurrency Specalists
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…
Read More How Trading Cryptocurrency Affects Profitability – Part 2 of 2
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…
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…
Read More Accountant – Intermediate/Senior with an interest in Cryptocurrency
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…
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…
Read More 2021 End of Financial Year Cryptocurrency Tax Checklist
Purchase a copy of the foundation recording here (note: you will pay via PayPal and receive a copy of the recording - do not refresh your browser) Purchase a copy of the advance recording here (note: you will pay via…
More contractors are being paid in cryptocurrency. This occurs when a contractor performs services and receives cryptocurrency as payment (instead of NZ dollars). The amount of remuneration (cryptocurrency received for services) will depend on the contracting agreement. It could be…
Read More Tax Overview: Contractor Getting Paid in Cryptocurrency
This article outlines what triggers a taxable event and how to calculate the profit on cryptocurrency transactions. An individual taxpayer includes their profit for the financial year (1 April to 31 March) in their income tax return. The profit is…
Marginal Tax Rates An individual combines their cryptocurrency profits for the financial year (1 April to 31 March) and reports a single profit/loss amount to Inland Revenue (IRD) in their income tax return. The crypto profit is combined with their…
Read More How much tax do I pay on my cryptocurrency profits?
Cryptocurrency prices have increased significantly in 2020 and many clients have made money from their investments. Tax liabilities for the financial year ending 31 March 2021 are likely to follow; prepare now. Some clients will keep their profits invested in…
