Earlier this month, we presented to IRD about claiming tax loss for taxpayers who held cryptocurrency on these platforms. A summary of that presentation can be found here. We have now received a reply to that presentation, and this article…
Tag: IRD Update
Implications of Cryptocurrency as Excepted Financial Arrangements
In March 2022, IRD released a new bill that classifies cryptocurrency as excepted financial arrangements (EFA). This was the same bill that removed GST from most cryptocurrencies and is retrospectively applied to 1 January 2009. The classification of cryptocurrencies as…
Read More Implications of Cryptocurrency as Excepted Financial Arrangements
IRD Update: Excluding Cryptocurrency from GST
IRD first mentioned in 2017 that GST legislation has been in progress to remove GST from cryptocurrency. The Australia Tax Office (ATO) updated their legislation in 2017, and by the meetings and discussions we had with IRD, it sounded like…
IRD Cryptocurrency Update
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…
Cryptocurrency End of Year Tax Guide
This article outlines our: 1. Tax Summary for Cryptocurrency2. Cryptocurrency End of Year Checklist3. How we can help as cryptocurrency accountants and tax advisers If you have any questions, please don’t hesitate to get in touch Tax Summary for Cryptocurrency IRD…
Cryptocurrency GST & Financial Arrangements – IRD Update
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