07/07/2026
🚨Do you own crypto assets? IRD’s latest crypto warning is a timely reminder for you.
Inland Revenue has made it clear that crypto transactions are firmly on its compliance radar. Recent reporting highlights IRD’s increased visibility over crypto activity, including transactions completed through offshore exchanges. Profits from selling, trading, or exchanging crypto assets remain taxable, and IRD is actively matching transaction data against filed returns, with compliance letters already being sent.
The takeaway? Taxpayers are no longer flying under the radar.
This reflects a broader shift towards data-driven compliance activity across New Zealand. As IRD expands its use of data matching and analytics, crypto joins a growing list of areas receiving increased scrutiny. Even clients who believe they have done the right thing may face reviews where historical transactions haven't been fully disclosed or accounted for.
As audit and review activity continues to grow, having the right protection in place is more important than ever. Audit Shield is designed to help accountants and their clients manage the costs associated with Inland Revenue reviews, audits, and investigations, reducing the financial burden when compliance questions arise.
