Taxing Cryptocurrencies 2020 – IRD have spoken - 21 October 2020 (On Demand)

Description

Tax, GST and Internet Cash

“Cryptocurrencies such as bitcoin provide an outlet for personal wealth that is beyond restriction and confiscation” – but what about the Taxman and internet cash? How will She operate in the virtual world?

In this webinar we will discuss Inland Revenue’s recent cryptocurrency guidance (September 2020) and assess how Inland Revenue will apply the ordinary income tax rules to:

  • Transactions involving buying/mining/holding/lending/swapping/selling digital currencies (gains and losses).
  • Cryptoasset income and cryptoasset expenses and deductions and fluctuations in the value (is it a foreign currency).
  • Exchanging goods and services for digital currencies (barter transactions)

We will also address the double taxation (GST) of transactions involving digital currencies.

ORIGINAL BROADCAST DATE

21 October 2020

LEARNING OUTCOMES

An introduction to digital currencies and a good understanding of the application of the income tax rules and Inland Revenue’s approach to (revenue account property, trading stock, financial arrangements, capital account) and GST rules applying to digital currencies.

SUITED TO

Accountants, lawyers and others who need to understand the income tax and GST treatment of digital currencies.

PRESENTER

Maurits van den Berg, Senior Manager, Taxation Services, Baker Tilly Staples Rodway

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $195.00 excl. GST

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