Check out my Substack here.
Tim Doyle, crypto currency tax expert joins me on this one to talk about a recent case where a client of his posted Bitcoin as collateral to take out a fiat currency loan. The idea is to borrow cash, without ever selling Bitcoin, much in the same way you might top up your mortgage to free up cash without having to sell your home.
But Inland Revenue’s response was to classify the posting of collateral as a disposal – Which means it’s a taxable event. What’s the big deal? If the world is heading more digital (and it is), then will other types of borrowing potentially trigger tax obligations too?
Book in a free 15-min phone call with Darcy Ungaro (financial adviser).
Sign up to the fortnightly newsletter!
Thank You
Swyftx: With over 1 million customers across New Zealand and Australia. Ask yourself …”Where can crypto take you?”. Check out Swyftx.
Affiliate Links!
The Bitcoin Adviser: Plan for intergenerational digital wealth.
Hatch: For US markets.
Revolut: For a new type of banking.
Sharesies: For local, and international markets.
Loan My Coins: Bitcoin lending product.
Exodus: Get rewards on your first $2,500 of swaps
Get Social:
Follow on YouTube , Instagram, TikTok: @theeverydayinvestor, X (@UngaroDarcy), LinkedIn, or subscribe on Substack.
________________________
Disclaimer: Please act independently from any content provided in these episodes; it’s not financial advice, because there’s no accounting for your individual circumstances. Do your own research, and take a broad range of opinions into account. Ideally, engage a financial adviser / pay for advice!
________________________
Listen to NZ Everyday Investor Podcast:
