Recent content by Centaur

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    FNB Private to RMB Private - worth it?

    Did everything work out in the end, did you keep your account number? Did you just email RMB and ask that you upgrade/migrate from FNB -> RMB? How are you finding RMB's service compared to FNB so far?
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    DStv adding Disney Plus without permission

    I wasn't going to say anything because they did sort it, until they did it again... A few days ago, I received an sms from disney+, stating that my phone number is linked to an account there. The only thing I could think of is dstv. I log into my dstv account and there it is, disney+ was linked...
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    SABC Bill published - Icasa to set regulations on if DStv must collect TV licences for the SABC

    Meanwhile, eTV is making millions in profit without any TV license income.
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    SARS cracks down on Bitcoin traders in South Africa

    It kinda sounds like SARS doesn't see it as forex or a currency, but as a security, like shares on the stock market. Which is just ridiculous o_O
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    SARS cracks down on Bitcoin traders in South Africa

    How do you calculate gains and tax if you received crypto from a free faucet or anonymous donations or you mined it, which are all real world cases with crypto?
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    SARS cracks down on Bitcoin traders in South Africa

    Because it isn't a share or a unit trust transaction. It is a currency, the big top cryptos have been declared not securites by many international bodies. It is like keeping track of your dollar notes. Some you use for paying. Some you want to convert back to Rands. Some you want to save and...
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    SARS cracks down on Bitcoin traders in South Africa

    Also how do you prove to SARS you didn't just make all these values up. If you can't export official trade info from an exchange.
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    SARS cracks down on Bitcoin traders in South Africa

    Unfortunately it is not that simple, since there are thousands of potential market values, depending on what exchange you used. And I don't see exchanges allowing you to export detailed information on market values, hence SARS alienating people who are trying to pay their crypto tax.
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    SARS cracks down on Bitcoin traders in South Africa

    Why not just tax it upfront on purchases and disposals. Like a 15% VAT. We already pay the exchange fees. It is very difficult to track profits and loss when you make many transactions among multiple cryptos. But SARS treating it like securities is ridiculous, many countries have declared the...
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    Bitcoin tax dodgers beware – SARS working on detection tools

    Yeah I read through it, it doesn't really explain much at all, even the linked FAQ document is bad. I'm not overcomplicating anything, in cryptocurrency land these are all valid simple cases that anyone can encounter. I guess the best is to just HODL crypto coins and never sell it to something...
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    Bitcoin tax dodgers beware – SARS working on detection tools

    Yes, there are so many valid cases where you would have no records with cryptos. But those people belong in jail just because they didn't have all the information they needed to accurately calculate the gains they received. You can put your wallet ID on a random website and people can send you...
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    Bitcoin tax dodgers beware – SARS working on detection tools

    Lol, because those are simple examples. You can have coins that were mined, gifted and bought in the same wallet. Those that were bought can be exchanged from other cryptos. Bitcoin has 8 decimal places. Those asset managers have systems that track all the transactions. A typical crypto wallet...
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    Bitcoin tax dodgers beware – SARS working on detection tools

    Huh, so what happens if you have mined it or you were gifted or donated crypto coins, and also how do you calculate the gains if you have coins from different times. This is all easier said than done, and it doesn't look like they really cater for the different cases. It's just give us the...
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    Bitcoin tax dodgers beware – SARS working on detection tools

    Why is it being considered an investment, thought it's a currency. So it should be handled like such. If you sell gold/silver coins, then there is no capital gains tax. How is cryptocurrency different.
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    Easy Equities good or bad?

    That is on my normal account. Where I received money but only the deductions count against the total. Very weird. My TFSA account is not a big difference like that, there I counted it up and got R2 too little.
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