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BR Pub 21/01
11 Jan 2021
01 Mar 2021
01 Dec 2022

Income tax - salary and wages paid in crypto-assets

This ruling replaces BR Pub 19/01 which considered the income tax treatment of crypto-assets received by employees as part of regular remuneration. The income tax treatment in the ruling remains the same. However, the Commissioner is aware that some aspects of the arrangement ruled on and the commentary may be inconsistent with the Wages Protection Act 1983 and the Minimum Wage Act 1983, and this has been addressed in the revised ruling.

BR Pub 19/01 is being withdrawn on 28 February 2021. The Commissioner will continue to be bound by BR Pub 19/01 for arrangements entered into on or before 28 February 2021 until 1 September 2022. 

See Notice of withdrawal for BR Pub 19/01

See related ruling BR Pub 21/02: Income tax – bonuses paid in crypto-assets

Tax Information Bulletin Vol 33 No 1 - February 2021

This item has expired and been replaced by BR Pub 23/04: Income tax – salary and wages paid in cryptoassets

Income Tax Act 2007 sections CE 1, CE 7, CX 2, CX 4, RD 3, RD 5, RD 6, YA 1 definitions of “amount” and “salary or wages”
Interpretation Act 1999 section 6

Co-operative Insurance Society Ltd v Commissioners of Customs and Excise (1992) VATTR 44
Deputy Commissioner of Taxation v Applied Design Development Pty Ltd (in liq) 2002 ATC 4,193
Goodfellow v The Commissioners (1986) VATTR 119
Heaton v Bell [1970] AC 728
R v Walsh [2007] 1 NZLR 738
R v Walsh [2007] 2 NZLR 109
Stagg v IRC [1959] NZLR 1252
Watts v MNR 61 DTC 592