ACT proposes tax-free crypto gains for holdings over 12 months

ACT has proposed exempting personal cryptocurrency gains from tax when assets are held longer than 12 months, while professional traders and short-term sellers would remain fully taxed under current rules. Deputy leader Nicole McKee said the policy would give everyday investors "certainty and simplicity." Inland Revenue says 355,000 New Zealanders use crypto, with $36 billion in recorded transactions. The pledge is not government policy.