Crypto Tax Checklist South Africa
SARS requires you to keep all tax-related documents for at least 5 years from the date of assessment.
Transaction Records
Keep records of every crypto transaction including date, type (buy, sell, trade, mine), amount in crypto, rand value at the time, purpose, and counterparty.
Type of Tax Applicable
If you hold crypto as an investment, disposals trigger CGT. If you trade frequently, profits may be taxed as ordinary income. The distinction depends on your intent and activity level.
Documentation Required
Download transaction histories from all exchanges. Use crypto tax software to calculate gains and losses. Report on your ITR12 in the capital gains or income section.
Frequently Asked Questions
How long must I keep these documents?
SARS requires you to keep all tax-related documents for at least 5 years from the date of assessment.
Can Admin Boss help me prepare?
Yes. Admin Boss is a registered tax practice that can help organise your documents and ensure nothing is missed. Visit adminboss.co.za/need-more-info/.
What happens if I miss a document?
Contact the issuer and request a duplicate. For bank statements, download from online banking. Missing documents may result in denied deductions.
Need Help With Your Tax?
Admin Boss is a registered tax practice with over 20 years of experience helping South African individuals and businesses navigate SARS.