Bitcoin Thread

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Snyper564 said:
Not that insane.

But you just need a excel sheet detailing everything and submit that. Can do it yourself.

Can be as simple as this

View attachment 1667853
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So now apparently I need to pay tax on money that I didn't even a profit from. According to the tax consultant I have to pay tax on R32000+ because there was an amount that I transferred in 2023 March (R20250 - which was money that had already been taxed) and I didn't declare any losses from the prior years. That R20250 I was already running at a loss, so I just took my money out, but he says SARS won't see it that way.

So in addition to the R12000 profit I made I have to pay tax on profits I never made. It's absolute bullshit.
 
Olorin said:
So now apparently I need to pay tax on money that I didn't even a profit from. According to the tax consultant I have to pay tax on R32000+ because there was an amount that I transferred in 2023 March (R20250 - which was money that had already been taxed) and I didn't declare any losses from the prior years. That R20250 I was already running at a loss, so I just took my money out, but he says SARS won't see it that way.

So in addition to the R12000 profit I made I have to pay tax on profits I never made. It's absolute bullshit.
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If you legit never made profit they will just need to open prior periods to allocate losses correctly.

Dont know what to tell you but this is why you get things in order from the start otherwise it can be a painful process.
 
Snyper564 said:
If you legit never made profit they will just need to open prior periods to allocate losses correctly.

Dont know what to tell you but this is why you get things in order from the start otherwise it can be a painful process.
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So then I'm not sure what to tell my tax consultant. Do I provide them with statements going back before 2023 even though I never declared losses in those years?

I get the need for doing things correctly but at the time from 2021 onwards I had no idea I even had to declare losses. It never crossed my mind. I was running at a loss so I just got out of Luno and took what little I had out.
 
Olorin said:
So then I'm not sure what to tell my tax consultant. Do I provide them with statements going back before 2023 even though I never declared losses in those years?

I get the need for doing things correctly but at the time from 2021 onwards I had no idea I even had to declare losses. It never crossed my mind. I was running at a loss so I just got out of Luno and took what little I had out.
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yup but just chat to them about the situation with full background
 
L-Dog said:
Pretty cool website can buy takealot, ww, pnp, istore vouchers not bad
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As soon as Suzuki hops on board I will be purchasing my Suzuki Super Carry from them brand new
 
Snyper564 said:
Doge noise for me is always a signal that the bull run is nearing its end.

Has been that way since 2017
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And when celebs and other clueless people start talking about crypto then you know the peak is near :ROFL:
 
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