Cryptoassets are treated as a form of property for tax purposes. While there are different types of cryptoassets, the tax treatment depends on the characteristics and use of the cryptoassets. It does not depend on what they are called.
Cryptoassets are not subject to GST when they are bought or sold, but do have GST implications when they are received as payment for normal business activities.
Cryptoassets are not financial arrangements, they are excepted financial arrangements (except those economically equivalent to debt arrangements). This means that if your cryptoassets are trading stock they are valued at cost at the end of the tax year.
Find out what you need to know about cryptoassets and your tax obligations.
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What cryptoassets are
Overview of what cryptoassets are and the different types of cryptoassets.
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Cryptoassets for individuals
Find out how some common cryptoasset transactions are taxed and what effect your tax residence status might have.
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Cryptoassets for businesses
Find out how your cryptoasset transactions are taxed if you have a cryptoasset business or you use cryptoassets for business transactions.
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Taxing cryptoasset income
You need to file an income tax return - IR3 when you have taxable income from a cryptoasset activity.