Crypto Myth #1: I do not have to pay tax on my Crypto in South Africa If you have ever been in a conversation revolving around crypto and taxes, you will always hear somebody mention “crypto is not taxable” or “nobody knows how to tax it”. Shockingly, this myth is...
(Disclaimer: This does not constitute financial advice) The need for crypto regulation Since Bitcoin’s official launch in January 2009, the growth of this technology has been exponential, growing much faster than the internet in the early 1980s. With such growth,...
The South African Revenue Service and Crypto Assets The South African Revenue Service (SARS) has set its sights on a new lucrative income source. For the last five years, we have been calculating crypto taxes for clients, it is safe to say we have performed more...
Please note that the information below is an opinion and cannot be used to rely on as formal tax advice. In order to obtain formal tax advice regarding your tax situation, please contact us directly for a consultation. For the lazy reader I start with a summary: It...