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Accounting & tax info, news and due dates

Check here regularly for all the latest tax information and news

Bitcoin & Other Cryptocurrencies – How to Tax?

April 24, 2018

Inland Revenue has recently given an update on its thinking on how Bitcoin and other cryptocurrencies should be dealt with from a tax perspective. Inland Revenue considers cryptocurrencies as property, rather than currency or money. This means that the normal tax rules that apply to personal property also apply to cryptocurrency. A person that deals in cryptocurrency or acquires cryptocurrency with a purpose of …

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Repairs On a Rental Property – Are They An Expense or Improvement?

January 31, 2018

You are only allowed a deduction for repairs and maintenance where the expenditure is required to maintain an asset in the condition it was initially acquired. If you add something extra to the house – this is likely to be an improvement and claimable for depreciation only. Please note however, that buildings with a life span of over 50 years are not depreciable for …

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