The Bitcoin Thread

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garp said:
Just to re-iterate - it's not 40% of your total gain.

It's 40% of your gain, less the exclusion (importantly you get an exclusion for every year you had the asset) which is then taxed at your marginal rate - so effectively it's below a maximum ~40% of 40% of your gain.
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But the above example (see a few posts earlier) suggests otherwise unless I'm misunderstanding you? I mean, if you hold for two years, the exclusion doesn't go to R80 000 (R40 000x2), correct? It stays at R40 000.
 
Ok so basically if I understand correct, if you profit 40k per financial year, you are not liable for any taxes?
 
Chris_the_Brit said:
But the above example (see a few posts earlier) suggests otherwise unless I'm misunderstanding you? I mean, if you hold for two years, the exclusion doesn't go to R80 000 (R40 000x2), correct? It stays at R40 000.
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CGT is not effective while you hold. It's calculated after the sale. You then calculate the capital gains and apply the R40k exclusion and calculate tax on the difference. You can include some costs in calculation of liability:
https://www.taxtim.com/za/calculators/capital-gains-tax
 
Yoh... Google needs to catch a wake up - did this 1 minute ago

BFS4Ypf.png
 
Google will just give you an average over many exchanges.
Each exchange has a different price. South African exchanges are about 30k higher at the moment.
 
In the last 24 hours:

- USD price increased by about $700 (8%)
- ZAR price (on Luno) increased by about R27000 (18%)
- The Rand strengthened by about 1%

I'm waiting for the selling on Luno.
 
Bah, can't do jack on luno, don't know whats sold/bought, balances not updating, posting/canceling etc all fugged, nothing updating, whats the price? did I lose or win?
 
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