Income tax – employer issued cryptoassets provided to an employee
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.
This item replaces BR Pub 19/03: Income tax - employer issued crypto-assets provided to an employee. There have been no changes to the original ruling.
Tax Information Bulletin - Vol 35 No 6, July 2023
Income Tax Act 2007, ss CE 7, CX 2 (“fringe benefit”), CX 6, CX 9, CX 10, CX 12 – CX 16, CX 37, GB 32, RD 27 – RD 57
Case M9 (1990) 12 NZTC 2,069 (TRA)
Noordam (No 2), The [1920] AC 904 (PC)
Spring House (Freehold) Ltd v Mount Cook Land Ltd [2002] 2 All ER 822 (CA)
Waimea Nurseries Ltd v Director-General for Primary Industries [2019] 2 NZLR 107 (HC)