You can claim losses made from trading but it must be done in that tax year where the losses were incurred. Crypto is classified as a financial instrument and can therefore be taxed under the SA tax act
I guess people would be holding for longer , its a curse in disguise. After a year the tax on capital gains go from 40% to 15%. Think the creators of crypto did see this type of thing coming
how will they know ?
They are on serious drugs
They should start a Cryptocurrency Bank in South Africa that's how they'll tax other than that the system should relax
We need to declare. I just lost on bitcoin so far.
Tax people only when they pay out for fiat then , dont tax their individual trades simple en klaar...
Unfortunately that is not how SARS sees it. According to them each time you make a trade or transaction it becomes a taxable event.
@@francoisbotha7968 they can fok them selves in the ass then.
Can I write back my loses ?? If not declared a legal currency it cannot be taxed ? Right ?
You can claim losses made from trading but it must be done in that tax year where the losses were incurred.
Crypto is classified as a financial instrument and can therefore be taxed under the SA tax act
😂The comment section does not agree...
I guess people would be holding for longer , its a curse in disguise. After a year the tax on capital gains go from 40% to 15%. Think the creators of crypto did see this type of thing coming
paper cash , i dont think so??
Daai man wa lwala
yeah sure....
Shiba inu coin