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Tariro says: 6 December 2016 at 21:05 I am a Temporary resident in South Africa using a work permit. I have a permanent Job and pay income tax from my salary. I however started trading different gift card codes in the US and UK online for bitcoins and have made a lot of profit in the last 8 months(well over R100k). These funds were in bitcoins which I later withdrew to my Absa account. Do I need to declare tax on these earnings as I am a non resident. |
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TaxTim says: 7 December 2016 at 8:22 Yes you need to declare the income you earned in your ABSA account and also deduct any expended you incurred while generating this income. |
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Tariro says: 7 December 2016 at 8:28 Last question, does this mean I have to pay provisional tax on this income as it is not taxed before I receive it? |
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TaxTim says: 7 December 2016 at 10:28 If you are earning more than R30 000 in profit then yes. |
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