Executive summary
New Zealand’s Inland Revenue has updated their guidance1 on the tax treatment of cryptoassets.2 This release clarifies the application of the tax rules for businesses or individuals buying, selling, trading or mining cryptoassets.
This latest guidance will assist taxpayers with more straightforward arrangements, but the inherent ambiguity in this fast-moving area has not been completely resolved. Nevertheless, investors and advisors alike will welcome Inland Revenue’s contin…