👉 What's new in crypto? Check out the TOP NEWS from 08/12/2019! 📰 [CDF #23]
It's time for a short review of one of today's most important news from the crypto-world! 🔝
👉 New Zealand legalises income in cryptocurrency
New Zealand tax authorities ruled that income in crypto currency is legal and provided guidance on how exactly it should be taxed.
In a published tax bulletin, the New Zealand Tax Department summarised the provisions of a public ruling under Section 91D of the National Tax Administration Act 1994.
The Income Tax Treatment Guidelines for Cryptographic Assets apply to cryptographic payments that form part of the regular compensation of employees and are set at a predetermined amount or rate - instead of, for example, payments that form part of an employee share scheme. Moreover, this applies only to wage earners - and not to self-employed taxpayers - covering both remuneration for services and bonuses, commissions and tips.