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Bitcoin and Tax

Posted 8 January 2018

Shaun said:
6 January 2018 at 18:03

Are the earnings from Bitcoin taxable?

TaxTim Neo TaxTim Neo said:
8 January 2018 at 8:22

SARS have issued guidance stating bitcoin is to be treated as a normal share trade. So, if you're trading it for revenue purposes then the gains and losses will be treated as a revenue transaction and taxed similar to a salary. If you hold it for investment purposes then this would be treated as if it were a normal capital gain on sale.

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