Hi,
With the crypto.com debit card, depending on the tier, you would receive a 2-3% reward on most purchases. Compared to regular credit cards however, the reward is received in CRO tokens.
Credit card rewards aren't taxable as per this discussion, but how does it work with the crypto.com debit card?
If it is treated fairly, I suppose the tax would be calculated on the capital gains of each reward at the time of disposal, not the entire reward?
Eg:
Say, you receive 10 CRO as a reward on a purchase. The value of CRO at that time was $0.50. In 2 years time, you dispose those 10 CRO tokens at a price of $1.00 per CRO token. The capital gains is 10 * (1.00 - 0.50) = $5 and you pay taxes on $5, not the total current value which is $10, right? Additionally in this case, the 50% CGT discount would apply as well because it was held for more than a year.
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