Cryptoassets
Cryptoassets are cryptographically secured digital representations of value that can be transferred, stored or traded electronically. They use some form of distributed ledger technology such as blockchain. Cryptoassets may also be referred to as cryptocurrencies, digital tokens or virtual currencies.
This overview lists public guidance on the tax treatment of cryptoassets. The guidance is organised under the following headings:
The Commissioner issues different types of public guidance items to cater for different customer needs. The different types of items are explained in About our publications.
Income tax issues
| Title | Summary | Date issued |
|---|---|---|
| Application of the employee share scheme rules to employer issued cryptoassets provided to an employee
BR Pub 23/07 |
This ruling considers when the provision of cryptoassets to an employee will constitute an employee share scheme in respect of which an employee derives a taxable benefit that is employee income under s CE 1(1)(d). Applies from 15 May 2023 – 30 November 2027 |
15 May 2023 |
|
Employer issued cryptoassets provided to an employee BR Pub 23/06 |
This ruling considers when cryptoassets issued by an employer and paid to an employee will be a fringe benefit, how the benefit is valued and the time at which the benefit is provided. Applies from 15 May 2023 – 30 November 2027 |
15 May 2023 |
|
BR Pub 23/05 |
This ruling considers when a bonus or an incentive paid in cryptoassets will be a “PAYE income payment” for income tax purposes under s RD 3 for which the payer of the cryptoassets will have PAYE obligations. Applies from 15 May 2023 – 30 November 2027 |
15 May 2023 |
|
Salary and wages paid in cryptoassets BR Pub 23/04 |
This ruling considers when employee remuneration paid in cryptoassets will be a “PAYE income payment” for income tax purposes under s RD 3 for which the payer of the cryptoassets will have PAYE obligation. Applies from 15 May 2023 – 30 November 2027 |
15 May 2023 |
Issues papers
| Title | Summary | Date issued |
|---|---|---|
|
Wrapping, bridging, lending, borrowing and staking cryptoassets IRRUIP18 |
Cryptoassets are increasingly being used in a variety of peer-to-peer transactions on the blockchain without the involvement of a central party. These transactions are known as decentralised finance (DeFi) transactions. This issues paper sets out the Commissioner’s initial views on the income tax consequences arising from common DeFi transactions such as wrapping, bridging, lending, borrowing and staking. The main issue that arises is whether these activities involve disposals of cryptoassets and acquisitions of different crypto-assets for tax purposes. |
29 Jan 2026 |
|
Income tax treatment of cryptoassets received from blockchain forks and airdrops IRRUIP14 |
This issues paper concerns whether the receipt and subsequent disposal of cryptoassets received from a blockchain hard fork or an airdrop would be taxable. In particular, it discusses some issues that arise when applying s CB 4 to disposals. | 06 Dec 2020 |
|
Whether remuneration paid to an employee in cryptocurrency is subject to PAYE or FBT |
It is becoming more common for employees (particularly those working in cryptocurrency-related industries) to receive regular remuneration in cryptocurrency. Inland Revenue has been asked whether cryptocurrency paid in those circumstances is taxable to the employee (PAYE) or payable by the employer (FBT). | 20 Jun 2018 |
Technical decision summaries
Technical Decision Summaries (TDS) are provided for information purposes only. They do not constitute advice, guidance, or an "official opinion of the Commissioner" as defined in section 3(1) of the Tax Administration Act 1994. They are not binding on the Commissioner and should not be relied on generally or for your specific circumstances.
| Title | Summary | Date issued |
|---|---|---|
|
TDS 25/23 |
This item summarises an adjudication about the acquisition and disposal of cryptoassets (including staking rewards) and whether the amounts derived are income. | 09 Oct 2025 |
|
Transactional residency and cryptoassets TDS 24/22 |
This item considers whether the Taxpayer would qualify to be a transitional resident. It also considers whether the amounts derived by the Taxpayer from the sale of cryptoassets through overseas centralised exchanges or decentralised exchanges have a source in New Zealand. |
03 Dec 2024 |