dejadeadnz: OP: Look at ss 5, 6, and 8 of the Goods and Services Tax Act. If you are going to farm bitcoins and then sell them within NZ, it's a taxable supply.
This advice assumes that BTCs are considered as goods not as a foreign currency. But it can't be both. You either consider it as a currency or as goods. Let's say I've mined some btc and then use them to pay for some service or goods. This leads to a paradox. In US they decided to treat btc as assets. Fine, now you know how to deal with it in US. In Spain, AFAIK, BTCs are considered as a currency. But treating BTCs as a currency and an asset at the same time is nonsense.
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