Generate Your New Zealand Crypto
Tax Return in 10 Minutes

You cannot completely avoid paying tax on crypto in New Zealand. However, you can legally reduce your crypto tax liability by using IRD-approved methods.

Transaction fees and gas fees paid when acquiring crypto are deductible costs that can offset gains and reduce tax liabilities. Although these fees may seem small individually, they can accumulate significantly over time.

Other legitimate ways to reduce crypto tax include:

Using tax loss harvesting to offset capital gains

Claiming deductible expenses such as transaction fees, exchange fees, and gas fees

Donating cryptocurrency to registered charities (tax credit of up to 1/3 donation value)

Keeping detailed records to claim all allowable deductions

Utilizing the personal use exemption for purchases under $60,000

In New Zealand, cryptocurrency is treated as property, not currency. The IRD classifies crypto under income tax rather than capital gains tax.

Capital gains from disposals: Subject to income tax at progressive rates (10.5%-39%)

Mining and staking rewards: Treated as income, subject to income tax based on category (hobby, business, ordinary income, or profit-making scheme)

GST on crypto: Cryptoassets are exempt from GST for buying and selling

Personal use exemption: Crypto purchases under $60,000 for personal goods/services are tax-free

NFT sales: Subject to GST if sales exceed $60,000 in 12 months

Mining income: Considered a service, income is taxable, but GST is zero in most cases

Crypto tax is paid through the New Zealand income tax system.

The payment process includes:

Calculating total crypto capital gains and income for the tax year (April 1 - March 31)

Reporting crypto income on your Individual Income Tax Return (IR3)

Submitting tax return through myIR online portal or paper forms

Paying the tax owed to IRD via online payment or bank transfer

Recording all transactions and maintaining records for at least 7 years

Crypto tax software can automate calculations and generate accurate reports ready for submission.

Crypto tax must be paid by the income tax deadline.

For the 2025-2026 tax year:

Tax year period: April 1, 2025 - March 31, 2026

Filing deadline: July 7, 2026

Payment deadline: July 7, 2026

Late filing or late payment may result in penalties and interest charges from IRD.

Yes. A crypto tax calculator automatically calculates:

Capital gains and losses using FIFO or ACB method

Income tax (10.5%-39%) on all taxable crypto activities

Deductible costs including transaction fees and gas fees

Income from mining and staking (categorized by activity type)

GST exemptions for crypto transactions

Taxable events across multiple wallets and exchanges

A New Zealand-specific crypto tax calculator applies IRD FIFO or ACB rules and generates tax reports that are ready for IR3 filing.

Yes. You may still owe tax even if you did not convert crypto into NZD.

Taxable events include:

Crypto-to-crypto trades (swapping one crypto for another)

Receiving crypto through mining or staking

Selling or trading NFTs for profit

Using crypto for business activities

These activities can trigger income tax under New Zealand rules. However, using crypto to purchase goods or services for personal use under $60,000 is tax-free.

Failing to report crypto activity can result in:

IRD penalties and fines for non-compliance

Interest on unpaid tax

Tax assessments and compliance checks

Criminal charges for intentional tax evasion

IRD actively monitors crypto transactions through exchange reporting and international data sharing agreements, making accurate reporting essential.

Yes. Crypto tax software helps by:

Tracking transactions across wallets and exchanges

Calculating capital gains using FIFO or ACB method automatically

Generating IRD-compliant tax reports

Handling progressive tax rates (10.5%-39%)

Calculating mining and staking income accurately (categorized by activity type)

Tracking GST exemptions for crypto and NFT transactions

Maintaining 7-year transaction records automatically

It reduces manual effort, minimizes errors, and ensures timely and accurate New Zealand crypto tax reporting.