Non-Taxable Cryptocurrency Gains
November 21, 2018
Inland Revenue’s position is that gains on cryptocurrency are taxable if they were acquired for the purpose of disposal (selling or exchanging). Furthermore, their default position is that cryptocurrency is acquired for the purpose of disposal.
“Bitcoin and similar crypt...
TAGS
Tax TipsGSTAgBizAccountantsCashflowGST requirementsIncome TaxPay Less TaxTax Efficiency and Business StructureBorrowingBusiness Health CheckBusiness lunchesBuying a homeCapital GainsCash and ProfitCompany Tax LossesCompany's - tax rate of 28%Crypto TaxCryptocurrencyCryptocurrency Taxdeductible for taxEntertainment TaxFarming Deductions for Home OfficeFinancial expenditureFirst Home BuyerHome OfficeHome Office Expenses for Business OwnersHybrid BasisInterest DeductionInvoice BasisParents Gifting to ChildrenPartnership - taxed at each partner's marginal taxPayments Basisregistered for GSTStructuresTax DeductionTax PoolingTaxable PeriodTrust's - tax rate of 33%Understanding Taxvoluntary GST registration