Tax
CRYPTOCURRENCIES: IRD TAX TREATMENT; FRAUD WARNINGS
We believe that if you hold (or “hodl”) crypto and stake it in order to earn crypto-rewards (usually more crypto), then the crypto itself functions much like a term deposit.
Read MoreIRD REQUEST FOR MORE INFORMATION
IRD request for more information: no one wants to receive one of those letters. But what do they look like and what do they mean? Here are two useful pages to get a clear picture on IRD Requests for More Information. WHEN THE IRD WANTS MORE INFO! This article explains that the Inland Revenue Department…
Read MoreWHEN THE IRD WANTS MORE INFO!
When the IRD wants more info… what do you do? This year (2016) we’ve seen a dramatic increase in requests for information from IRD, generally, letters where they want a more detailed breakdown of expenses. We’ve also seen some more “direct” methods employed. What is this all about? FOCUS ON PROPERTY This year, as in…
Read MoreWHAT HAPPENS IF I MAKE A LOSS?
That’s a good question, and it depends a lot on what entity incurs the loss. Let’s break down the various types and what effect they have. LOOK-THROUGH COMPANY (LTC) If you are a shareholder in a Look-Through Company (LTC) and that company makes a loss, then you get to carry that loss through to your…
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