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A club for Kiwis
  1. What's new in this club
  2. Nobody from IRD has contacted me yet but I'm guessing I'll get a letter around April time.
  3. Got an email from bitprime today saying ird are making them hand over customer info. Hopefully this means they have some more concrete guidelines ready for crypto and this is not Just another way for us to have money taken from us.
  4. https://markets.businessinsider.com/news/stocks/new-zealand-legalizes-cryptocurrency-salaries-including-bitcoin-2019-8-1028442320
  5. https://www.rnz.co.nz/news/in-depth/395731/is-nz-dragging-the-blockchain
  6. Hey mate - yes I used to follow them on twitter last year. You may remember them as MyCryptoSaver - they rebranded to Vimba late last year. As I remember they enabled people new to crypto to invest small amounts regularly into BTC & ETH. Its a platform marketed as helping people build up crypto portfolios without necessarily having to understand the ins and outs of those 2 digital assets. I remember them because they posted a relatively negative blog post about Ripple/XRP last year. IMO opinion it recycled a lot of the FUD we are used to hearing from BTC maxis. I can't find
  7. lol They must be expecting to shift a few though. Maybe Samsung has brought crypto to the attention of more mainstream retailers...IDK. Just feels like it won't be too long before the people who think I'm a weird guy throwing my money away will be using crypto themselves when I see stuff like this.
  8. I can't imagine Noel Leeming are that ahead of the curve are they...? https://www.noelleeming.co.nz/shop/computers-tablets/accessories/cables-chargers-and-adapters/ledger-nano-s-cryptocurrency-hardware-wallet/prod171535.html
  9. Insightful read, thanks for sharing. It’s about time banks started working for their customers, as soon as one steps up the rest will follow.
  10. https://www.newsroom.co.nz/2019/01/28/413230/disrupting-the-bankers?fbclid=IwAR3CicCYzB_ee8azLuC5K3vScMaVk-eFc7oJxnPH3LQ9F-O7-THa53w5qVU An interesting take on where NZ banking is headed in the next two years.
  11. https://bravenewcoin.com/home A kiwi company in West Auckland , A data and research company working with Nasdaq, helping powering Blockchain Finance.
  12. A great summary of the state of crypto in NZ, well worth reading.
  13. Interesting article here on bitprime's website. https://www.bitprime.co.nz/blog/cryptocurrency-banking-new-zealand/
  14. Bitcoin & Other Cryptocurrencies – How to Tax? 24 April 2018 Inland Revenue has recently given an update on its thinking on how Bitcoin and other cryptocurrencies should be dealt with from a tax perspective. Inland Revenue considers cryptocurrencies as property, rather than currency or money. This means that the normal tax rules that apply to personal property also apply to cryptocurrency. A person that deals in cryptocurrency or acquires cryptocurrency with a purpose of disposal is subject to tax on any profit realised. As cryptocurrencies only produce a benefit when t
  15. https://www.agbizaccountants.nz/page/cryptocurrency-end-of-year-tax-guide/
  16. Articals from bitprime.co.nz https://www.bitprime.co.nz/blog/non-taxable-cryptocurrency-gains/ https://www.bitprime.co.nz/blog/tax-differences-trading-vs-holding-cryptocurrency/
  17. Has anyone ever heard of this startup? https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12152717 It's an exchange but only offers BTC and ETH
  18. It's that exact page of 'clarity' from the IRD that inspired me to start this thread ?
  19. They say you need to pay tax if you exchange it for crypto or fiat so what would happen if say I buy a car with XRP? Does that constitute a return on a speculative investment? the clarity is seeming murkier by the minute.
  20. That's a good point. I wonder if that is a potential loop hole. In saying that there is no other income derived off them like rent from a property. i.e buying a house and holding for more than two years is seen as an investment as you are deriving an income from an asset regarlrss if you change your mind after 2 years and sell it. with crypto they are saying the only reason you buy it is to sell it at a profit later.
  21. One thing I noticed was that crypto is regarded as property unless you bought it for speculation which kinda makes no sense, I would have thought capital gains rules would apply i.e no tax after 2 years the same as a house.
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