New Zealand Tax Office Makes It Legal to Pay Salaries in Crypto (1 Viewer)

  • Welcome to the Roundtable! If you have an account already, please sign in, otherwise feel free to register. Note that you will be unable to post or access some boards and information unless you sign in.


Healing Facilitator & Consciousness Guide
Staff member
Creator of & The Roundtable
Jul 19, 2016
Christchurch, New Zealand
This is a major move ahead, and positive move of course, for cryptocurrencies.

CoinDesk published this earlier this week:

"New Zealand’s tax office, the Inland Revenue Department (IRD), has made it legal to receive salaries in cryptocurrency, and be taxed accordingly.​
In its August bulletin, the agency published a new ruling under the Income Tax Act (in relation to section RD 3) that states that an employee can be paid salaries in crypto assets as long as the payments are for services performed under an employment contract, are for a fixed amount and form a regular part of the employee’s remuneration.​
The crypto asset being paid must also be able to be exchanged for fiat currency, and must have the primary purpose of acting like a currency or be pegged to the price of one or more fiat currencies, the IRD states."​

While I don't personally think it's a good idea to have your wages come right into your bitcoin or ethereum accounts because of the instability in the markets, later on things will be more stable and this will likely become a more popular thing to do.

I'm not aware if other countries have done this, but New Zealand tends to do some things first and has been known as a testing ground for other countries to study the results of.


Just Arrived
Mar 4, 2020
Its an idiom of sorts...the closest direct English equivalent would be "into eternity." I dont quite know why its done this way, but this is how I learned it in the CLC, so this is how I do it.

Users Who Are Viewing This Thread (Users: 0, Guests: 1)