Chartered Accountants and Cryptocurrency Specalists
IRD have made an overhaul to their cryptocurrency guidance. Their updated information can be found here. In summary, there are no significant changes or updates to the taxation of cryptocurrency, however the guidelines do provide some (but limited) clarity about…
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…
Read More Cryptocurrency GST & Financial Arrangements – IRD Update
The purpose of this article is to highlight cryptocurrency Goods and Services Tax (GST) risks and uncertainties. Specifically, how New Zealand taxpayers involved in cryptocurrency are disadvantaged due to existing GST legislation. We have requested further information and clarification from…
I recently had a phone call with Inland Revenue (IR) discussing common cryptocurrency tax situations we are experiencing. The purpose of the phone call was to discuss these common situations, how we are preparing cryptocurrency financial statements and calculating taxable income.…