New Zealand's ACT Party floating a crypto tax proposal that actually makes sense:
• Hold for 12+ months = 0% tax on personal gains
• Small everyday purchases (coffee etc) = tax-free
• Short-term trading still taxed
• Less red tape for local fintech
Right now IRD treats every crypto move like taxable income. 355k Kiwi holders would obviously love this.
Not saying it'll pass, but at least someone's proposing policy that doesn't treat long-term holders like day traders. Most countries still haven't figured this out.
• Hold for 12+ months = 0% tax on personal gains
• Small everyday purchases (coffee etc) = tax-free
• Short-term trading still taxed
• Less red tape for local fintech
Right now IRD treats every crypto move like taxable income. 355k Kiwi holders would obviously love this.
Not saying it'll pass, but at least someone's proposing policy that doesn't treat long-term holders like day traders. Most countries still haven't figured this out.
