IRD may treat crypto-currencies like gold held for profit, won't comment on Bitcoinica

Thu, 21 Dec 2017

By Jonathan Underhill Dec. 22 (BusinessDesk) - The Inland Revenue Department is working on guidelines for the tax treatment of crypto-currencies and may regard it as similar to the proceeds of gold bullion sales that had been held for profit. An IRD spokesman said preparatory work "is underway on issuing public guidance regarding the tax treatment of crypto-currencies". The department declined to comment on the implications for creditors of Bitcoinica, the Auckland-based currency trader put into liquidation in 2012, with the spokesman sa...

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