Inland Revenue is reminding crypto-investors of their tax obligations.  

The agency says it has identified 355 thousand unique crypto-asset users in New Zealand conducting some 57 million transactions. 

It says any profit from selling, trading, or exchanging the assets is taxable as income. 

Tax Partner at Dentons, Bruce Bernacchi told Mike Hosking there’s quite a lot of misunderstandings about crypto out there. 

He says people who aren’t regular share traders don’t pay capital gains when they buy and sell things like shares, but that’s very different than crypto, which is generally seen as being taxable.  

LISTEN ABOVE 

Inland Revenue is reminding crypto-investors of their tax obligations. &nbsp;
The agency says it has identified 355 thousand unique crypto-asset users in New Zealand conducting some 57 million transactions.&nbsp;
It says any profit from selling, trading, or exchanging the assets is taxable as income.&nbsp;
Tax Partner at Dentons, Bruce Bernacchi told Mike Hosking there’s quite a lot of misunderstandings about crypto out there.&nbsp;
He says people who aren’t regular share traders don’t pay capital gains when they buy and sell things like shares, but that’s very different than crypto, which is generally seen as being taxable. &nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Bruce Bernacchi: Tax Partner at Dentons on Inland Revenue contacting crypto-investors over unpaid tax

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/88bd4909-6ed6-4de5-87b3-b43301507e7c/transcript

It's quite possible the Prime Minister might look back on yesterday's caucus meeting as a moment that defined his leadership. 

He read the riot act, they had a vote, and he won. 

He was always going to win, but in making his statement afterwards he hopefully, once and for all, sent a message to the media that the sort of drama they live for is over. 

He should have done this sooner of course. He is 100% right when he says most of us have no interest in the minutiae and gossip that envelops the beltway. 

This is a country with a myriad of issues facing us and every moment you spend on frippery is a moment wasted on real problems. 

Yes, you can blame Uffindell and Bishop and his mates for talking and leaking. But in totality when you look at what led to yesterday —five idiots and a bloke from the Hutt who sort of fancied himself— what a mountain out of a mole hill. 

In a caucus of 50-ish, a handful of nobodies got a bit spooked and caused too much damage, but got aided by the media who don’t like the Government and certainly don't like Luxon so leapt into it with alacrity. 

Luxon deserves a lot better. No, he is not one of this nation's greats. But mind you they said that about John Howard for many years, until they realised they were wrong. 

But what Luxon is, is a hard-working, successful operator, managing a three-way deal to run a country, mired in debt, in a world at war and when we are not at war, finding any number of problems to provide no end of challenges, for a small country at the bottom of the planet. 

You can't fault his ambition, and you can't fault his work ethic. If you don’t like National, fine, don’t vote for them. 

But the point is he is in it, and always has been, for the right reasons and that is to be respected. 

The bit that would have got me was upon arrival he tidied his party up. The leaking and backstabbing was stopped and his reward was the gormless and self-absorbed fools then went and let him down. 

They should be embarrassed and ashamed of themselves. 

But hopefully Luxon emerges from this stronger. Every now and then you see a flash of it, like Monday post-Cabinet when he spoke with passion about immigration. Yesterday was the same but about gossip and wasting time. 

He needs to be himself more. He doesn’t like the beltway and who can blame him? 

Hopefully yesterday he put a line in that sand.   

It's quite possible the Prime Minister might look back on yesterday's caucus meeting as a moment that defined his leadership.&nbsp;
He read the riot act, they had a vote, and he won.&nbsp;
He was always going to win, but in making his statement afterwards he hopefully, once and for all, sent a message to the media that the sort of drama they live for is over.&nbsp;
He should have done this sooner of course. He is 100% right when he says most of us have no interest in the minutiae and gossip that envelops the beltway.&nbsp;
This is a country with a myriad of issues facing us and every moment you spend on frippery is a moment wasted on real problems.&nbsp;
Yes, you can blame Uffindell and Bishop and his mates for talking and leaking. But in totality when you look at what led to yesterday —five idiots and a bloke from the Hutt who sort of fancied himself— what a mountain out of a mole hill.&nbsp;
In a caucus of 50-ish, a handful of nobodies got a bit spooked and caused too much damage, but got aided by the media who don’t like the Government and certainly don't like Luxon so leapt into it with alacrity.&nbsp;
Luxon deserves a lot better. No, he is not one of this nation's greats. But mind you they said that about John Howard for many years, until they realised they were wrong.&nbsp;
But what Luxon is, is a hard-working, successful operator, managing a three-way deal to run a country, mired in debt, in a world at war and when we are not at war, finding any number of problems to provide no end of challenges, for a small country at the bottom of the planet.&nbsp;
You can't fault his ambition, and you can't fault his work ethic. If you don’t like National, fine, don’t vote for them.&nbsp;
But the point is he is in it, and always has been, for the right reasons and that is to be respected.&nbsp;
The bit that would have got me was upon arrival he tidied his party up. The leaking and backstabbing was stopped and his reward was the gormless and self-absorbed fools then went and let him down.&nbsp;
They should be embarrassed and ashamed of themselves.&nbsp;
But hopefully Luxon emerges from this stronger. Every now and then you see a flash of it, like Monday post-Cabinet when he spoke with passion about immigration. Yesterday was the same but about gossip and wasting time.&nbsp;
He needs to be himself more. He doesn’t like the beltway and who can blame him?&nbsp;
Hopefully yesterday he put a line in that sand. &nbsp;&nbsp;

Mike's Minute: Did Luxon just have a leadership-defining moment?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ed970002-1f48-426f-adc1-b433016f2308/transcript

Cross-lease owners are being warned a Court of Appeal ruling may curb current veto powers. 

A decision made last week could make it harder for a neighbour of a cross-lease property to withhold consent to proposed alterations. 

It shifts the old power balance, with 215,000 cross-leases owned nationwide.  

Pidgeon Judd Law Director Joanna Pidgeon told Mike Hosking changes can't be vetoed by neighbours unless deemed reasonable. 

She says parties need to reflect on what both people want and what a reasonable person would decide. 

LISTEN ABOVE 

Cross-lease owners are being warned a Court of Appeal ruling may curb current veto powers.&nbsp;
A decision made last week could make it harder for a neighbour of a cross-lease property to withhold consent to proposed alterations.&nbsp;
It shifts the old power balance, with 215,000 cross-leases owned nationwide. &nbsp;
Pidgeon Judd Law Director Joanna Pidgeon told Mike Hosking changes can't be vetoed by neighbours unless deemed reasonable.&nbsp;
She says parties need to reflect on what both people want and what a reasonable person would decide.&nbsp;
LISTEN ABOVE&nbsp;

Joanna Pidgeon: Pidgeon Judd Law Director on the cross-lease court ruling that impacts veto powers for developments

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8984e9cc-ac65-4b48-9acf-b433016b1b3e/transcript

Politicians are unimpressed with Shane Jones’ suggestion the India Free Trade Agreement would lead to a "butter chicken tsunami" of Indian migrants coming to New Zealand. 

Christopher Luxon says the New Zealand First deputy leader's comments were "alarmist" and "scaremongering". 

Labour's Ginny Andersen told Mike Hosking the Prime Minister should go further and call the comments out as racist. 

National's Mark Mitchell says Jones does have a unique way of communicating, but he should clearly choose his words more carefully. 

He told Hosking Jones got this one wrong, and needs to be more careful in the future. 

LISTEN ABOVE 

Politicians are unimpressed with Shane Jones’ suggestion the India Free Trade Agreement would lead to a "butter chicken tsunami" of Indian migrants coming to New Zealand.&nbsp;
Christopher Luxon says the New Zealand First deputy leader's comments were "alarmist" and "scaremongering".&nbsp;
Labour's Ginny Andersen told Mike Hosking the Prime Minister should go further and call the comments out as racist.&nbsp;
National's Mark Mitchell says Jones does have a unique way of communicating, but he should clearly choose his words more carefully.&nbsp;
He told Hosking Jones got this one wrong, and needs to be more careful in the future.&nbsp;
LISTEN ABOVE&nbsp;

Pollies: National's Mark Mitchell and Labour's Ginny Andersen on the India FTA, Shane Jones' butter chicken comment, National leadership saga

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6da7a471-7e0e-468e-a03d-b433016418e8/transcript

Bruce Bernacchi: Tax Partner at Dentons on Inland Revenue contacting crypto-investors over unpaid tax

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