Cryptocurrency is always making headlines and in the 2022 Budget Review published recently, the treasury announced a crackdown on cryptocurrency miners, which the treasury labelled as “environmentally harmful” and stablecoins. In addition, South Africa’s regulatory authorities are developing several interventions, that are expected to be finalised this year. Regulations that are on the table Based […]
Tag Archives: cryptocurrency
27
Sep
Sep
Your crypto assets might live in the virtual world, but SARS is determined to bed down the tax rules on cryptocurrencies and turn your digital assets into tangible tax. On August 27 2021, SARS clarified how your crypto assets must be declared in your tax return and published a web page called Crypto Assets & […]
26
Apr
Apr
With the rise in popularity of cryptocurrencies, many people are asking the question whether the taxman can claim a piece of what’s in their crypto wallet? The good news is that if your approach is to ‘buy and hold’, you can put off paying tax until you are ready to cash in. However, there are […]