NZ Party Offers Zero Tax on Bitcoin Gains After One Year Holding Period
The ACT Party in New Zealand has unveiled a six-point plan to support the country's digital economy, including a proposal for zero tax on Bitcoin and crypto gains after holding them for 12 months.
The policy, titled 'Unlocking New Zealand's Digital Economy,' is aimed at retail holders who buy and hold cryptocurrencies. It would keep full taxation in place for disposals made within 12 months and all business or professional trading activity, but would provide relief to everyday users with low-value transaction exemptions.
The proposal also seeks to clarify regulatory treatment for stablecoins and tokenized assets, areas where existing rules are unclear.
The ACT Party is hoping to win the support of the estimated 355,000 New Zealanders who transact in cryptocurrencies, worth around $36 billion. The party trails the big four in polls but is jockeying with smaller parties for influence ahead of the November general election.