Module 2: Current Crypto Assets and Taxation Issues
Duration: 0.5 hour
Price: R49.00
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Module 2: Current Crypto Assets and Taxation Issues
Presenters : Chris Herbst
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Overview
Cryptocurrencies have entered the mainstream in the past few years, attracting the attention of the South African Revenue Service (SARS). SARS actively started to audit cryptocurrency investors, demanding proof of transactions from various crypto investment platforms.
The tax implications of cryptocurrency trading and investing remains a contentious issue, in part due to the complexity around crypto-related transactions, including:
- Hard forks (where one cryptocurrency splits into two separate ones).
- Airdrops (where a new cryptocurrency is sent to owners of an existing cryptocurrency).
- Staked rewards (where a cryptocurrency earns you a type of interest).
- Mining.
- It is essential for tax professionals to stay updated with the latest developments and the complexity around crypto-related transactions.
