Bitcoin and SARS

[HButton]

Morning all

I read in the news that one needs to declare crypto currency for tax.
I have already submitted my tax in July... How does it work now as I did not know that I had to share this info with them?

Not sure to just get rid of it or still keep as I mined all of it some years back.

Thanks in advance

 

[bythecantloads]

Not sure I am going to do that... At least not until I cash out.

 

[veez007]

If it's not sold, don't bother about Sars.
If it was sold before beginning of this year, don't bother about sars

 

[goldfritter]

If you use Luno you can email them at support@luno.com and ask for a tax report for the preceding tax year, they send it you on a nice letterhead and everything.

 

[veez007]

Or one more thing, if you buy stuff with the btc via overseas exchange don't bother about sars

 

[goldfritter]

Business Insider

Business Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.

www.businessinsider.co.za

Worth a read before deciding not to declare.

 

[HButton]

Thanks for the input. @goldfritter will drop them a mail, thanks a lot.