ACT Party Seeks Tax-Free Crypto Gains in New Zealand

New Zealand's ACT Party has proposed waiving capital gains tax on cryptocurrency assets held for over a year, aiming to boost long-term retail investments. This move is part of the party's campaign to modernize digital finance rules and make cryptocurrencies more accessible as an investment tool.

The proposal also includes exempting small crypto purchases from taxes, allowing individuals to use these assets as a daily means of payment. This change would only apply to individual retail investors, with professional traders and businesses remaining subject to existing tax rules.

Additionally, the plan outlines clear regulatory and tax frameworks for qualifying payment stablecoins, tokenized securities, and real-world assets. A sandbox will be established for startups to test innovative products, and current regulatory policies will be reviewed to ensure that crypto businesses are not excluded from the financial infrastructure.