Cryptocurrency and your clients – CAANZ panel

Rafael Franco, our co-founder, was invited on as a panellist at the Chartered Accountants Australia and New Zealand “Cryptocurrency and your Clients – Virtual Workshop 2022”, focusing on helping tax practitioners deal with their clients’ cryptocurrency tax obligations.

Workshops like these are definitely becoming a necessity for accountants and lawyers as the crypto and blockchain space continues to evolve and gain mainstream adoption.

Many professionals are quickly learning that crypto and blockchain is more than just trading tokens on a centralised exchange. The cryptocurrency tax and legal implications of engaging in crypto can often become quite complex when clients engage in the following activities:

• Staking
• Running a node
• Receiving Airdrops
• Providing liquidity to pools
• Lending & borrowing
• Cross-chain bridging
• Mining
• Establishing a DAO and working for one
• Receiving crypto as payment
• Launching NFT projects and receiving royalties
• Purchasing NFTs for different purposes
• Engaging in Play to Earn games
• Buying/selling/leasing land in the metaverse
• Operating a crypto exchange
• Managing a crypto SMSF

As Australian crypto tax accountants, Tax On Chain is focused on servicing the needs of the decentralised future and is proud to manage a client base that engages in all of the above crypto and blockchain activities. We aim to continue supporting Chartered Accountants Australia and New Zealand and share our experiences in the crypto tax space with other professionals.