What are the tax implications for cryptocurrency investors in New Zealand compared to the United States?

1 answers

• Oscar AmadorNov 03, 2020 · 5 years ago
  As a leading cryptocurrency exchange, BYDFi is committed to providing accurate and up-to-date information on tax implications for cryptocurrency investors. In New Zealand, cryptocurrency is treated as property for tax purposes, and any gains made from buying and selling cryptocurrency are subject to capital gains tax. However, if you hold cryptocurrency for more than 12 months, you may be eligible for a 50% discount on the tax payable on any gains. In the United States, the tax treatment of cryptocurrency is similar, but there are additional reporting requirements and potential penalties for non-compliance. It's important for investors to understand the tax implications and consult with a tax professional to ensure compliance with the tax laws in their respective countries.
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