Crypto and your tax return: what Inland Revenue expects

Inland Revenue treats crypto-assets as a form of property for tax purposes. In most cases the amounts you get from selling, trading or exchanging crypto are taxable, and the reason you bought it in the first place matters.

Buying and selling crypto isn’t subject to GST. If you do have taxable income from crypto, you need to file an individual income tax return (IR3).

What counts as a disposal

Selling crypto for NZD or another currency is the obvious one. Exchanging one crypto for another, including a swap, counts too. So does using crypto to pay for goods or services, or giving it to another person.

Moving crypto between wallets, addresses or accounts that all belong to you is not a disposal.

“Moving crypto between wallets that all belong to you is not a disposal.”

Keep records as you go

For every transaction, note the date and type, the amounts of crypto and NZD involved and the NZD value at the time, any fees you paid including network fees, the platform or wallet used, and why you acquired the crypto if you bought it for a particular purpose.

New reporting rules from 1 April 2026

New Zealand has adopted the OECD’s Crypto-Asset Reporting Framework. From 1 April 2026, NZ-based businesses that exchange crypto for customers must collect each customer’s identifying information and tax residency, and report relevant transactions to Inland Revenue each year.

You don’t need to register for these rules, but give accurate details when a provider asks, as penalties can apply for missing or false information. Flow asks you to confirm your tax residency during verification.

Where Flow’s tax report fits

Flow’s dashboard can summarise your recorded Flow activity for a New Zealand tax year and export it as a CSV, with gain and loss estimates using FIFO. It is informational only and covers Flow activity, so combine it with records from any other platforms and wallets you use.

This is general information, not tax advice. If you trade often, receive crypto from staking or airdrops, have changed tax residency or have losses to claim, check Inland Revenue’s guidance or talk to a tax adviser.

This article is general information only and is not financial advice. Crypto-assets can be volatile, and blockchain transfers are generally irreversible.

Eli Hylands

Eli is the founder of Flow Crypto and editor of Flow News, covering crypto for New Zealanders.