Thread: Ethereum
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Old 14th August 2019, 07:14     #314
DrTiTus
HENCE WHY FOREVER ALONE
 
Inland Revenue weighs in on crypto (page 3)

Summary: If you get paid in crypto, you still need to pay PAYE on your wages as though you were getting paid in NZD, at a rate determined by a valid exchange (one which operates in accordance with laws such as know your customer) - a NZ based exchange will do just fine.

The parallel they draw is that crypto is like property, so FBT applies. Stable coins can be treated as money, pay your tax G.

I expect that the usual trading vs investing definitions come into play around gains made in crypto and whether they are taxable. (Intent when purchasing, and frequency of buying/selling, etc)
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