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NFT's

Let me correct you, tax has always been applicable on Crypto, same as NFTs. Just how it is taxed, was uncertain.

Hence, if you do not declare your crypto or NFTs, tax evasion comes to mind.
This - was done on a case by case basis while they were finalising the process.

SARS will always get their pound of flesh & has the outlook of judge first and then review later.
 
This - was done on a case by case basis while they were finalising the process.

SARS will always get their pound of flesh & has the outlook of judge first and then review later.
Hence, uncertain in terms of how SARS wanted to treat it.

Mostly treated as income of nature.

And yes, SARS will always get their share.
 
Bold of you to assume, you are completely correct, but still bold 😂
You can feel truth so not too bold although I definitely acknowledge it😂

I mean, new carb account, name's is ELUSIVE & your (most likely) first post is on NFT's? Man's doesn't own shit in that scenario xD

and no that is not ego talking xD
 
Let me correct you, tax has always been applicable on Crypto, same as NFTs. Just how it is taxed, was uncertain.

Hence, if you do not declare your crypto or NFTs, tax evasion comes to mind.
As far as I know, but as always I can be wrong... ISP's are now obligated to inform SARS if any mining software is run on a device connected to there network. Making evasion a bit more tricky. VPN's and suck still giving you the ability to evade if you wish to.
 
You can feel truth so not too bold although I definitely acknowledge it😂

I mean, new carb account, name's is ELUSIVE & your (most likely) first post is on NFT's? Man's doesn't own shit in that scenario xD

and no that is not ego talking xD
Ahh an academic I see. All assumptions are correct
 
Not really interested in buying, just wanted to hear some opinions. More interested in what they will do to crypto coins and mining in general
What SARS are definitely doing - regulate the fuck out of it & tax the tits off of everyone who has made any gain at all.
 
What SARS are definitely doing - regulate the fuck out of it & tax the tits off of everyone who has made any gain at all.
Becoming like China and just banning crypto or even just banning mining isn't off the table, or do you think it is?
 
Becoming like China and just banning crypto or even just banning mining isn't off the table, or do you think it is?
I think it is definitely off of the table in SA (not enough people to enforce it or care) - would be a legislative nightmare.

Anything crypto or blockchain (that people can make money off of) will be added to tax declaration requirements.
 
Let me correct you, tax has always been applicable on Crypto, same as NFTs. Just how it is taxed, was uncertain.

Hence, if you do not declare your crypto or NFTs, tax evasion comes to mind.
You only pay tax if you sell diamond hands baby!!!!
 
You only pay tax if you sell diamond hands baby!!!!

Erm, okay? Not really sure, you trying to educate me? Also, selling is not the only trigger in tax, depending on the circumstances.
 
I find NFT'S a silly concept personally. Although they are a lot more profitable you need to have a rather large capital to begin with to actually see the true potential.
 
Seems as if the government is trying to screw us over in anyway possible :ROFLMAO: Soon we are going to have to pay for our households using solar power.
 
Here is a 1eth challenge thread I made, finally cashed out today with a big win. I would recommend you spend some time and energy researching NFTS as I dont think there is a better educated gamble than NFTS this year

 
NFTs is definitely a silly concept, but to each his own. Some people think it's a good investment and that's all that matters ultimately - if they're willing to part with their money for NFTs then good for them.

Like most dudes around, I created a NFT and put it on opensea to see what happens. No surprise you need to be very active on discord, other NFT communities to get your NFT noticed in the first place. Otherwise it's just not going to happen.
 

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