Recent content by icy_uranus

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    Crypto earnings & Capital Gains Tax

    If said trades all happened in the same tax year then yeah. However I think Random Dude On Forum shouldn't be your advisor lol, it's better you talk to a tax person. Although that takes me to my next big problem in that I had to go through 4 different tax companies before I found someone who...
  2. I

    Crypto earnings & Capital Gains Tax

    Apparently every trade you make is a taxable event. So if you even daytraded across exchanges selling BTC for ETH, ETH for XRP, each buy and sell is something you should've logged. HOWEVER most of the people pushing this message seem to be tax companies promoting these doom and gloom articles...
  3. I

    Bitcoin transfer from Luno to international exchanges is illegal

    Yeah reading the headline had me concerned. I've bought quite a few altcoins through Binance and Bitfinex in the past, so that been a crime this whole time? Seriously? EDIT: Literally my entire circle of friends and family would be jailed or fined if this is true, they've all dipped their feet...
  4. I

    Bitcoin investments can cause tax implications in South Africa

    And let's say the price of ETH crashes back to $250 right after you do that trade, do you still owe tax on that R840k "gain" even if that same ETH is now only worth R80k?
  5. I

    Bitcoin investments can cause tax implications in South Africa

    I declared all the cash i withdrew from Luno as income in my IRP6's, so that'll reflect on my next IRP12. I declared every single cent and paid a pretty hefty sum, I'm just wondering if there would be penalties and how that would work.
  6. I

    Bitcoin investments can cause tax implications in South Africa

    So let's say I invested R5000 in crypto. I day traded like a crazy man, and finally withdrew R100 000 that I declare on my return and pay taxes relative to my income bracket. I don't bother trying to even go for the CGT loophole, I call it straight income. They then decide to audit me, I don't...
  7. I

    Bitcoin investments can cause tax implications in South Africa

    Let's say someone started trading crypto well before it was mainstream, before SARS even issued a directive on it, and they genuinely have no access to some of their trade information. An exchange that closed down, an old wallet which they lost, then what? Surely there has to be some level of...
  8. I

    How much you will pay to say goodbye to Eskom

    How many panels do you think one would require to simply have power during loadshedding, so 2 hours a day? I live in Durban so blazing sun most of the year is in good supply lol
  9. I

    SARS cracks down on Bitcoin traders in South Africa

    Thanks man, you're doing great work in this thread lol. Thankfully I made most of my gains (and losses) over lockdown and the recent BTC pump so that'll fall in the current tax year, phew I have since discovered this place: https://koinly.io/ seems to work with major exchanges or you just punch...
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    SARS cracks down on Bitcoin traders in South Africa

    Quick question good sir which is where most of my confusion and stress is coming from. Let's say I buy R100 worth of BTC, BTC pumps and it's worth R1000. I sell said BTC for ZAR and make R900 profit. I then take that entire R1000 and buy Random Altcoin. Random Altcoin crashes and I'm back to...
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    SARS cracks down on Bitcoin traders in South Africa

    Just woke up to read this thread and felt my heart drop into the floor. I've been trading shitcoins for the past 2 years, literally hundreds of transactions. From exchanges, to uniswap (where to even begin with that) and I have literally no idea what to do now, ****. And how will they even...
  12. I

    EasyProperties launching 1 July

    Looking at this myself. Interesting competition along with it to win free rent in one of their existing properties. But for most people uprooting for a year to a different flat probably isn't feasible if you have an existing lease elsewhere so they give the option to sub-let it on your behalf...
  13. I

    MTN launches new Mega Plans

    I tried to get their 1 terabyte deal advertised but 3 weeks later I'm still being told the code hasn't been "put on the system". So did anyone ever end up getting that deal? Really bad service.
  14. I

    MTN launches new LTE deal - 1TB for R1,059

    That's what I'm wondering too. 1TB is pointless if they throttle after a point, but seeing as it's a limited time deal and fixed lte maybe there's only a select few spots available, so who knows perhaps this actually is just a short term decent deal for the lucky few
  15. I

    Another Crypto Tax Thread

    Thanks dude, you're a legend
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