Why Should You Hire A Crypto Tax Accountant in NZ? Cryptocurrencies have recently come to the attention of tax collectors. Here are some of the reasons why you might want to hire a professional to help you file your cryptocurrency tax returns. That’s why it’s important to hire a Crypto tax accountant in NZ. Key Takeaways: ● In many parts of the world, cryptocurrency users are subject to taxation. ● Hiring a cryptocurrency tax specialist may assist users in navigating the potential complexities of filing their returns. ● There are several steps that can be taken to get the most out of any accounting service. Over the last decade, there has been a significant increase in public awareness of cryptocurrencies Governments around the world are now paying attention to digital currencies, prompting revenue collectors to issue new guidelines on taxing the emerging asset class. This has recently expanded to contacting leading cryptocurrency exchanges to track their customers' activity and including crypto-specific questions on tax return forms. While the government has taken clear steps toward taxing cryptocurrencies , many specific details remain unknown. That is one of the reasons why cryptocurrency users who need to file their tax returns can benefit from the services of a specialist accountant. There are a few things you should think about before approaching any specialist. Begin by keeping an up-to-date record of all your trades and activity. If you stay on top of things, being prepared will help and could save you thousands of dollars. When consulting with an accountant, it is critical to determine their level of expertise. A crypto accountant should understand the distinctions between activities such as liquidity mining and trading, as well as how taxes may apply to each. The IRD recently issued guidance on taxing cryptocurrency. According to the IRD, cryptocurrencies are taxed in the same way as real estate. Although cryptocurrency trading occurs in a virtual realm, tax obligations continue to apply in New Zealand. You must hire a competent crypto accountant in NZ who can help you throughout the process.