Crypto Cost Basis FIFO Calculator NZ

This calculator works out the cost basis and taxable gain when you sell cryptocurrency in New Zealand, using the first in, first out method that Inland Revenue accepts. It matters because, contrary to a common myth, crypto is not tax free here: Inland Revenue treats crypto-assets as property, and because most people buy them intending to sell, the gains are usually taxable income at your marginal rate. There is no separate capital gains tax, but the profit is still taxed, so working out the gain correctly is essential. The tricky part is the cost basis when you have bought in several lots at different prices and then sell only some of your holding. First in, first out solves this by matching the sale against your earliest purchases first, so the cost of the coins sold is what you paid for the oldest ones. You enter up to three buy lots with the quantity and price of each, then the quantity and price of your sale, and the calculator walks through the lots in order, totals the matched cost, and shows the proceeds, the gain, and the tax at the marginal rate you choose. Keep thorough records of every transaction, because Inland Revenue expects you to be able to show your workings. This is general information, not tax advice.

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Your buy lots (earliest first)

$
$
$

Your sale

$
$50,000
taxable gain (FIFO)
FIFO cost basis$40,000
Sale proceeds$90,000
Tax at your rate$16,500

Crypto gains are usually taxable income in NZ, at your marginal rate. Keep records of all trades. General information, not tax advice.

How it works

The calculator takes the quantity you sold and matches it against your buy lots oldest first, adding up the cost of those units as the FIFO cost basis. The proceeds are the quantity sold times the sale price. The gain is proceeds less cost basis, and the tax is that gain times your marginal rate.

Worked example

You bought 1 coin at 20,000 and 1 at 40,000, then sell 1.5 at 60,000. FIFO uses the first coin (20,000) and half the second (20,000), a cost basis of 40,000. Proceeds are 90,000, so the gain is 50,000, taxed at 33 percent for about 16,500 dollars.

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Frequently asked questions

Is cryptocurrency taxed in New Zealand?

Yes. Inland Revenue treats crypto-assets as property, and gains from selling them are usually taxable income at your marginal rate, because most people acquire them with the purpose of selling. There is no separate capital gains tax, but the gain is still taxed as income.

What is FIFO cost basis?

First in, first out matches a sale against your earliest purchases first. The cost basis of the units sold is the price you paid for those earliest coins, which Inland Revenue accepts as a valuation method.

How is the gain taxed?

The taxable gain is the sale proceeds less the cost basis of the units sold and any fees. That gain is added to your income and taxed at your marginal rate. Keep good records of every buy and sell.