Bitcoin and the Law – Is It Legal, What About Tax, and Can You Leave it to Your Heirs?

Bitcoin and the Law – Is It Legal, What About Tax, and Can You Leave it to Your Heirs?

Bitcoin and the Law – Is It Legal, What About Tax, and Can You Leave it to Your Heirs?KVV Inc Attorneys
Published on: 04/03/2025

Cryptocurrencies like Bitcoin and Ethereum are legal in South Africa, but their legal status is evolving. While the Reserve Bank acknowledges their use as a medium of exchange, they are not legal tender. SARS treats cryptocurrencies as intangible assets for income tax and Capital Gains Tax, requiring taxpayers to declare gains and losses.

Business
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What SARS Says About Crypto Assets and Tax

What SARS Says About Crypto Assets and Tax

What SARS Says About Crypto Assets and TaxKVV Inc Attorneys
Published on: 04/03/2025

The future of money is digital, but crypto investors beware! SARS has published tax guidance on crypto assets like Bitcoin and Ethereum. Understand your tax obligations before you invest. The SARS webpage covers what crypto is, how it works, and how it's taxed, including an ITR12 example. However, grey areas exist, so seek professional advice to navigate potential pitfalls. Don't get caught out!

Tax
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KVV Inc. Attorneys: Celebrating 10 Years of Excellence in Property Law and Conveyancing.

Fostering Partnerships, Driving Results.

© KVV Inc. Attorneys 2025. All Rights Reserved. Privacy Policy | POPIA

KVV Inc. Attorneys: Celebrating 10 Years of Excellence in Property Law and Conveyancing.

Fostering Partnerships,

Driving Results.

© KVV Inc. Attorneys 2025.

All Rights Reserved. Privacy Policy | POPIA