Taxation of Crypto Assets
Presenters : Chris Herbst
Overview
This module provides a introduction to digital currencies, you will gain understanding of tax implications of buying,selling and holding digital currencies.Crypto assets are sure to shape the future of how we transact. SARS has taken a keen interest in enforcing compliance with taxation on crypto assets. Tax practitioners have no choice but to understand crypto assets and the taxation issues thereof.
Short course content (self-paced)
- What is a crypto asset?
- Why is cryptocurrency not a currency?
- What are SARS's views on crypto assets?
- What are the different income sources of crypto assets?
- How to deal with the crypto asset question in the context of income vs capital gain.
- When does a taxable event occur?
- Dealing with trading stock valuation.
- Ring-fencing of assessed losses.
- How to value crypto currency for calculations.
- What is the VAT consequences of dealing with crypto assets?
- How to complete crypto assets revenue and or capital gains/losses on the ITR12.
Competencies developed in this short course (self-paced)
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