New Zealand's Inland Revenue has updated its guidance on the tax treatment of cryptoassets.

A spokesperson, Tony Morris, said Inland Revenue was updating the guidance to provide some certainty for taxpayers with cryptoassets.

“People can buy, sell, and exchange cryptoassets; provide goods or services in exchange for them; mine cryptoassets; and earn staking rewards (or “crypto interest”) among other things,” Mr Morris said.

“There are no special tax rules for cryptoassets in New Zealand. The guidance clarifies how ordinary income tax rules apply to cryptoassets to help people understand their tax obl...