What the report shows
Sharesies provides two Crypto transaction reports that may help support you in determining your crypto-related taxable income.
The 'taxable income' version provides you with an indicative taxable income figure based on your Sharesies Crypto buy and sell activity, whereas the 'basic' version provides raw transaction data, which you can use to calculate your own taxable income figure.
Details on the two different report versions below.
Column definitions for the ‘Crypto transaction report - taxable income’
You can use the definitions below to help you understand the information in your report.
Column heading | Description |
Trade ID | A unique reference for the transaction in Sharesies Crypto. |
Trade date | The date and time (NZ local time) the buy or sell transaction took place. |
Instrument code | The code used to identify the crypto asset—for example, BTC for Bitcoin or LINK for Chainlink. |
Instrument name | The full name of the crypto asset (for example, Bitcoin). |
Transaction method | Whether the transaction was a BUY or a SELL. |
Quantity | The amount of the crypto asset bought or sold in this transaction. |
Price USD | The price of one unit of the crypto in USD at the time of the transaction |
Amount USD | The total value of the transaction in USD (Quantity × Price USD), before the transaction fee (rounded down to the nearest US cent). |
Transaction fee USD | The fee charged for the transaction, in USD. |
FX | The USD to NZD exchange rate applied to this transaction. |
Value of sold asset NZD | The amount you received from selling the crypto in this transaction (net of fees), converted to NZD. It applies to sell transactions only, so it's blank for buys. This is rounded down to the nearest NZ cent. |
Cost of sold asset NZD | The NZD cost of the units you sold in this transaction, determined using the weighted average cost method. It applies to sell transactions only, so it's blank for buys. This is rounded down to the nearest NZ cent. |
Taxable income NZD | The indicative realised profit or loss in NZD from a sell transaction within Sharesies Crypto, as calculated by ‘Value of sold asset NZD’ minus ‘Cost of sold asset NZD’. BUY transactions are always 0, because no gain or loss is realised until you sell. |
The report also includes a summary row:
Row | Description |
Taxable income for the period NZD | The indicative sum of all ‘Taxable income NZD’ across each of your Sharesies Crypto assets for the period. A sum greater than zero may indicate a profit for the period, whereas a sum less than zero (sometimes shown in brackets) may indicate a loss for the period. |
Column definitions for the ‘Crypto transaction report - basic’
You can use the definitions below to help you understand the information in your report.
Column heading | Description |
Trade ID | A unique reference for the transaction in Sharesies Crypto. |
Trade date | The date and time (UTC) the buy or sell transaction took place. |
Instrument code | The code used to identify the crypto asset—for example, BTC for Bitcoin or LINK for Chainlink. |
Instrument name | The full name of the crypto asset (for example, Bitcoin). |
Market code | Trading services provider used for trade execution. |
Quantity | The amount of the crypto asset bought or sold in this transaction. |
Price | The execution price per unit of the crypto asset at which the transaction was executed. |
Transaction type | Whether the transaction was a BUY or a SELL. |
Currency | Currency of the transaction |
Transaction fee | The fee charged for the transaction, in USD. |
Transaction method | Acquisition method: BUY, SELL, or TRANSFER IN. |
Portfolio | The portfolio where the transaction occurred |
Initiated by | The user who initiated the transaction |
Cost basis methodology
To work out the cost of the crypto you've sold, Inland Revenue lets you use one of two methods: first-in first-out (FIFO) or weighted average cost (WAC). Sharesies Crypto uses the weighted average cost (WAC) method for its crypto transaction reports, in line with Inland Revenue's guidance on calculating crypto asset income.
With WAC, your cost basis for each crypto asset is the weighted average price you've paid for that type of asset (your purchase amounts plus transaction fees, converted to NZD).
When you sell, the cost of the crypto sold is based on that weighted average price. Buying more crypto updates the average. Selling crypto reduces your cost basis proportionally.
USD amounts are converted to NZD using the exchange rate that applied at the time of each transaction.
Things to keep in mind
Sharesies transaction reports only cover your Sharesies Crypto assets. If you hold crypto on other platforms or wallets, you'll need to include that activity in your tax return as well.
The Sharesies Crypto Transaction reports only calculate realised gains and losses for each transaction, i.e. crypto you've actually sold or otherwise disposed of during the tax year. In general, unrealised gains and losses on crypto you still hold aren't taxable or deductible, so they aren't included in report totals.
For detailed guidance, check out Inland Revenue’s info on cryptoassets.
Sharesies Crypto is offered by Sharesies Crypto Limited.