Employment or other income (affects marginal tax rate)
Gross Gain
$30,000.00
Tax on Gain
$9,357.00
Net Proceeds
$20,643.00
Effective Tax Rate
31.2%
ROI
150.0%
Cryptocurrency acquired as part of a business or with intent to dispose is taxable income in NZ.
Gains Breakdown
Crypto Tax in New Zealand
New Zealand does not have a capital gains tax. However, cryptocurrency acquired with the intention of disposal (selling for profit) is treated as taxable income under the Income Tax Act 2007. The gain is taxed at your marginal income tax rate.
When Is Crypto Taxable?
If you bought crypto intending to sell it, the profit is taxable. If you are paid in crypto for goods or services, it is treated as income. Mining and staking rewards may also be taxable depending on the circumstances. Unlike Australia, there is no 50% CGT discount for holding periods.
No CGT Discount
Unlike Australia, NZ does not offer a CGT discount for assets held over 12 months. If your crypto gains are taxable, the full amount is added to your assessable income and taxed at your marginal rate (10.5% to 39%).
Marginal Tax Rates
Your crypto gains are added to your other taxable income and taxed at your marginal tax rate. The more you earn, the higher the percentage of tax on your gains. This calculator accounts for your other income to determine the correct marginal rate.
IRD-Aligned: Uses 2025-26 NZ income tax rates. This calculator assumes gains are taxable. Consult a chartered accountant for complex crypto portfolios.
How IRD taxes cryptocurrency gains and what you need to report
Does New Zealand tax cryptocurrency?
Yes. IRD treats cryptocurrency as property, not currency. If you buy and sell crypto for profit, the gains are taxable income. This applies to Bitcoin, Ethereum, and all other digital assets. If you bought NZ$5,000 of Bitcoin and sold it for NZ$8,000, the NZ$3,000 profit is added to your taxable income for the year.
When is crypto taxed and when is it not?
Crypto is taxed when you acquired it with the intention of selling it for a profit — which covers most trading activity. If you simply hold crypto as a long-term investment with no plan to sell, it may not be taxable, but IRD looks at your overall pattern of activity. Regular buying and selling is almost always treated as taxable.
What tax rate applies to crypto gains?
Crypto gains are taxed at your normal income tax rate. The rates for 2025 are: 10.5% on income up to NZ$14,000, 17.5% from NZ$14,001 to NZ$48,000, 30% from NZ$48,001 to NZ$70,000, 33% from NZ$70,001 to NZ$180,000, and 39% on income above NZ$180,000. Your crypto profits are added on top of your salary or wages.
Do I need to pay tax when swapping one crypto for another?
Yes. Swapping Bitcoin for Ethereum, for example, is treated as selling Bitcoin and buying Ethereum. You need to work out the NZD value of each trade at the time it happened. If your Bitcoin was worth NZ$10,000 when you swapped and you originally paid NZ$7,000, the NZ$3,000 gain is taxable.
Can I deduct crypto losses?
If your crypto trading is taxable, then losses can usually be offset against other income. For example, if you lost NZ$2,000 on one trade but made NZ$5,000 on another, you only pay tax on the NZ$3,000 net gain. Keep records of every trade so you can prove both gains and losses to IRD.
What records do I need to keep?
IRD expects you to keep records of every crypto transaction: the date, the type and amount of crypto, the NZD value at the time, and whether it was a buy, sell, swap, or transfer. You also need records of any fees paid. Most exchanges let you download transaction history. Keep these records for at least seven years.
Is staking or mining income taxable?
Yes. Rewards from staking, mining, or airdrops are treated as income at their NZD value when you receive them. If you mine NZ$500 worth of Ethereum in a month, that NZ$500 is taxable income. You can deduct expenses related to mining, such as electricity and equipment costs.
Do I need to pay GST on crypto?
For most individual traders, no. GST does not apply to buying and selling crypto for personal investment. However, if you are running a crypto trading business with turnover above NZ$60,000, you may need to register for GST and charge it on services. This is a rare situation for most people.
IRD-Aligned: Based on 2025 IRD rates and thresholds. For personal advice, speak to a qualified tax agent.
Disclaimer: This calculator provides estimates based on current HMRC rates and thresholds for the 2025/26 tax year. It does not constitute professional tax, financial, or legal advice. Your actual liability may differ depending on your individual circumstances. Always consult a qualified accountant or tax adviser before making financial decisions. Read our terms
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