“The future of money is digital currency” as Bill Gates put it, and certainly interest in crypto currencies - like Bitcoin, Ethereum, Polkadot, Solana and the many others popping up all the time - is surging dramatically.
Of growing importance therefore is that anyone holding or planning to buy cryptocurrency needs to understand the tax angle, and by way of an updated warning to keep up to speed on this we point you to SARS’ new webpage on the subject for a “from the horse’s mouth” take on the whole question.
SARS addresses questions such as what a crypto asset is, whether tax needs to be paid, how it will work (with an example of the 2020/21 tax year ITR12 Tax Return), and how it traces crypto asset transactions.