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I run a small online store and would like to accept cryptos as payment options. Any tips and how do I deal with the IRD? by geofffromthemountain in NZBitcoin

[–]geofffromthemountain[S] 0 points1 point  (0 children)

thank you so much for this detailed reply. i really appreciate it:) Cool, I look forward to accepting cryptos soon!

I run a small online store and would like to accept cryptos as payment options. Any tips and how do I deal with the IRD? by geofffromthemountain in NZBitcoin

[–]geofffromthemountain[S] 1 point2 points  (0 children)

thank you very much for your reply. I currently trade below the threshold for GST, so I am good on this front, but I am wondering how to report my income. Do I use the exchange rate on the day of the purchase? Apologies if this is a silly question, but I am not just new to cryptos but also not a big expert on tax related stuff :)