New Zealand

• Cryptoassets classified as property, not currency.
• Gains taxable on disposal if dominant purpose was disposal (Income Tax Act s CB 4), trading (badges of trade), or profit-making.
• Long-term buy-and-hold investments generally exempt.
• No thresholds; facts and circumstances determine taxability.
• Taxable events: sell for fiat, crypto-to-crypto trade, spend/use.
• Non-taxable: buy with fiat, transfer own wallets, hold.

• Mining rewards taxed as income at fair market value (FMV) in NZD on receipt.
• Staking rewards taxed as income at FMV when received.
• Airdrops, forks taxable if from profit scheme or effort; passive may not be.
• Lending interest, liquidity rewards similar to income at receipt.
• Expenses deductible if business-related (fees, electricity).

• Report net income/gains/losses from crypto activities.
• Use IR3 individual tax return; 'other income' or business schedule.
• Tax year: 1 April to 31 March.
• File by 7 July (provisional tax return) or 31 March next year with tax agent.
• Keep 7 years records: dates, amounts, NZD FMV, cost basis.

• Cost basis methods: FIFO, weighted average (consistent use required).
• Losses offset other income; no carryback.
• IRD accesses exchange data; CARF reporting mandatory from April 2026.
• GST if crypto business turnover exceeds $60,000.
• DeFi/staking guidance in consultation IRRUIP18 (Jan 2026).