Pegasus Chartered Accountants

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📢 Crypto & Digital Asset Tax Reminder – New Zealand

If you have bought, sold, traded, mined, staked, or otherwise dealt with cryptocurrency or digital assets, it is important that these transactions are disclosed in your tax return.

Many cryptocurrency exchanges and digital asset platforms share information with tax authorities, and the IRD has increasing access to data relating to crypto transactions. This means that undeclared crypto activity can be identified even if it was conducted through overseas platforms.

Failure to correctly declare income, gains, or other taxable crypto transactions may result in:
✅ Additional tax assessments
✅ Use-of-money interest charges
✅ Shortfall penalties and other compliance actions

Whether you have made a profit, incurred a loss, or simply exchanged one digital asset for another, it is important to maintain proper records and seek advice if you are unsure of your tax obligations.

If you have any cryptocurrency or digital asset transactions that have not yet been reviewed for tax purposes, we recommend addressing them before filing your return to avoid unnecessary penalties and interest.

This is general information only and does not constitute specific tax advice. Please contact us if you require assistance with your particular circumstances.

sharing economy income
Sharing economy income is income you earn through digital platforms or apps by sharing assets or providing services for a fee.
Sharing economy income can include payments you receive for:
> ride sourcing, taxi, limousine or delivery services
> short term accommodation or property sharing
> renting or hiring out assets (for example, vehicles, equipment or car parking)
> creating or selling digital content, digital goods or online entertainment
> task based, freelance or on demand services arranged through online platforms
What you need to know
Income you earn through the sharing economy is generally assessable and must be declared in your tax return, even if:
> you earn the income part time, casually or irregularly
> no tax was withheld from the payments you received.

Sharing economy platforms provide IRD with information about income earned through their services.

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From individual tax registrations to comprehensive business structures — including Sole Traders, Companies, Trusts, and Partnerships — we provide expert accounting and taxation services across Australia and New Zealand.

We also specialise in investment property accounting and tax advisory.

As Chartered Accountants, we are committed to delivering accurate, compliant, and strategic financial solutions tailored to your needs.

Contact us today to discuss how we can support your accounting and taxation requirements.