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SARS should give crypto investors more carrot and less stick

It has been more than three years since SARS’s media statement on cryptocurrencies. In this statement, SARS said that it would apply 'normal income tax rules' to cryptocurrencies when assessing whether a gain is revenue or capital in nature, and that crypto assets are not seen as currency for income tax purposes.

Supplementary Budget Speech: what was not said

Sometimes the focus should not be on what was said, but rather on what was left unsaid. The Supplementary Budget tabled by Minister Tito Mboweni on 24 June 2020, centred around the potentially disastrous trajectory of South Africa’s fiscal affairs.

Taxpayers urged to know their obligations

In light of the recent announcement that the tax return threshold will be lifted from R350,000 to R500,000, it is crucial for South Africans to fully educate themselves on their filing obligations, or risk incurring possible fines by the South African Revenue service (SARS).

Tax amendments proposed for cryptocurrencies

Treasury has proposed certain amendments to the Income Tax Act relating to the tax treatment of cryptocurrencies in the recently issued Draft Taxation Laws Amendment Bill (draft TLAB).

The calm before the storm

With less than a month to go before the 2017 Budget Speech, attention is shifting to possible tax amendments expected to be implemented in the new tax year.


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