Fine until they get the lifestyle audit in place (which, to be fair, seems
unlikely to happen in our lifetime).
From: cpt-fgc-bounce@xxxxxxxxxxxxx [mailto:cpt-fgc-bounce@xxxxxxxxxxxxx] On ;
Behalf Of Ilitirit Sama
Sent: 18 January 2018 11:47 AM
To: cpt-fgc@xxxxxxxxxxxxx
Subject: Re: Hello
But there's a trick!
You can transfer to Coinbase, then onto your credit card. As long as you're in
debt, SARS doesn't even look there because you aren't gaining interest, so no
tax invoice is generated. It's regarded as a CC payment.
So...
1. Get a CC with a huge limit
2. Buy *everything* on your CC (bonus: Score a truck load of Voyager Miles)
3. Pay your CC from Coinbase
4. ???
5. Profit!
On Thu, Jan 18, 2018 at 11:43 AM, lindsey kiviets
<lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx>> wrote:
indeed.
theres no guideline, SARS have said they working on it with other revenue
services.
this declaration thing is not gna be as easy as ppl think.
generally tho, like with Luno. if it comes into your SA bank account SARS would
want to know where those proceeds came from. so its up to you to do a calc and
declare the correct amount.
________________________________
From: cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>
<cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>> on behalf
of Ilitirit Sama <ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx>>
Sent: 18 January 2018 09:38 AM
To: cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>
Subject: Re: Hello
But there's no guidelines what you should mark it as. So you could declare it
as "Foreign Investment Income" which has a different tax rate.
On Thu, Jan 18, 2018 at 11:18 AM, lindsey kiviets
<lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx>> wrote:
that's if u declare it as a capital gain.
________________________________
From: cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>
<cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>> on behalf
of Donaldson, Alasdair
<alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx>>
Sent: 18 January 2018 08:59 AM
To: cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>
Subject: Re: Hello
If it’s not your primary income, isn’t it taxed at the highest rate.
Sent from my iPhone
On 18 Jan 2018, at 10:49, lindsey kiviets
<lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx><mailto:lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx>>>
wrote:
other taxable receipts are fully taxable. Its added to your taxable income and
you get taxed accordingly.
so maximum marginal rate would be 41%.
But that would be the net that you put in there.
________________________________
From:
cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>
<cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>>
on behalf of Ilitirit Sama
<ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx><mailto:ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx>>>
Sent: 18 January 2018 08:40 AM
To:
cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx><mailto:cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>>
Subject: Re: Hello
What's the rate on "other taxable receipts"?
What about if it's coins you bought cheaply then sold for a profit?
On Thu, Jan 18, 2018 at 9:01 AM, lindsey kiviets
<lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx><mailto:lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx>>>
wrote:
it should go under "other taxable receipts" if you frequently buy and sell.
if its a big amount and your intention was to keep it for a long time but u
went all in and sold all, then its cgt.
I don't know about how one declares mining expenses and kuk against this, coz
ppl don't factor that kuk in.
________________________________
From:
cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>
<cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>>
on behalf of Donaldson, Alasdair
<alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx><mailto:alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx>>>
Sent: 18 January 2018 06:54 AM
To:
cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx><mailto:cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>>
Subject: RE: Hello
Capital gains on currency exchange?
*Not a tax person either.
From:
cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>
[mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx%3Cmailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>]
On Behalf Of Ilitirit Sama
Sent: 18 January 2018 8:53 AM
To:
cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx><mailto:cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>>
Subject: Re: Hello
Declaring them is not an issue. What do you declare them as?
My friend as his accountant and even she doesn't know.
On Thu, Jan 18, 2018 at 8:37 AM, lindsey kiviets
<lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx><mailto:lindseyak@xxxxxxxxxxx<mailto:lindseyak@xxxxxxxxxxx>>>
wrote:
being that its becoming regulated the crypto market should in theory hold more
weight in the investment side of things.
Better questions should be asked:
Should you declare crypto gains? yes
will you declare crypto gains? tsek
________________________________
From:
cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>
<cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>>
on behalf of Donaldson, Alasdair
<alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx><mailto:alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx>>>
Sent: 18 January 2018 06:28 AM
To:
cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx><mailto:cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>>
Subject: RE: Hello
It’s funny watching the meltdown on the forums. Most of the people investing
here don’t understand what a market correction is… or why bitconnect was more
of a Ponzi scheme than anything else.
From:
cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx><mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>
[mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx<mailto:cpt-fgc-bounce@xxxxxxxxxxxxx%3Cmailto:cpt-fgc-bounce@xxxxxxxxxxxxx>>]
On Behalf Of Nicholas Robertson-Muir
Sent: 18 January 2018 7:52 AM
To:
cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx><mailto:cpt-fgc@xxxxxxxxxxxxx<mailto:cpt-fgc@xxxxxxxxxxxxx>>
Subject: Re: Hello
You bet.
On Jan 17, 2018 23:43, "Donaldson, Alasdair"
<alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx><mailto:alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx>>>
wrote:
Yeah, best to hold onto that R100 investment.
Sent from my iPhone
On 17 Jan 2018, at 19:49, richard moorcroft
<greattekkenmaster@xxxxxxxxx<mailto:greattekkenmaster@xxxxxxxxx><mailto:greattekkenmaster@xxxxxxxxx<mailto:greattekkenmaster@xxxxxxxxx>><mailto:greattekkenmaster@xxxxxxxxx<mailto:greattekkenmaster@xxxxxxxxx><mailto:greattekkenmaster@xxxxxxxxx<mailto:greattekkenmaster@xxxxxxxxx>>>>
wrote:
Can you guys not throw so much money around??? It's too risky this Bitcoin kak
On 17 Jan 2018 18:43, "Nicholas Robertson-Muir"
<nicmuir@xxxxxxxxx<mailto:nicmuir@xxxxxxxxx><mailto:nicmuir@xxxxxxxxx<mailto:nicmuir@xxxxxxxxx>><mailto:nicmuir@xxxxxxxxx<mailto:nicmuir@xxxxxxxxx><mailto:nicmuir@xxxxxxxxx<mailto:nicmuir@xxxxxxxxx>>>>
wrote:
My bitcoins are worth half of my last buy in, I'll lose R250 if I sell.
From just buy and sell, I've made just over R100, which I didn't re-invest.
I'm not selling.
On Jan 17, 2018 5:22 PM, "Ilitirit Sama"
<ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx><mailto:ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx>><mailto:ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx><mailto:ilitirit@xxxxxxxxx<mailto:ilitirit@xxxxxxxxx>>>>
wrote:
I'm doing great. I sold the bulk of my holdings more than a month ago. Back
then I said I foresee BTC targeting $7k (it was $18k at the time). It's
currently at around $9.6k. I did lose about R8k from mining income but I had
no intention of moving that around anyway. I'll just wait for that to recover.
Then this coin I had that I spent R200 on and it shot up to about R220k.
Didn't sell. It's down to about R65k now. Still not going to sell. I mean, I
literally only spent R200 on it...
On Wed, Jan 17, 2018 at 1:13 PM, Donaldson, Alasdair
<alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx><mailto:alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx>><mailto:alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx><mailto:alasdair.donaldson@xxxxxxxxxx<mailto:alasdair.donaldson@xxxxxxxxxx>>>>
wrote:
So… how’re all you crypto currency fans doing?
________________________________
The information in this e-mail is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this e-mail by anyone else
is unauthorized. If you have received this communication in error, please
address with the subject heading "Received in error," send to the original
sender, then delete the e-mail and destroy any copies of it. If you are not the
intended recipient, any disclosure, copying, distribution or any action taken
or omitted to be taken in reliance on it, is prohibited and may be unlawful.
Any opinions or advice contained in this e-mail are subject to the terms and
conditions expressed in the governing KPMG client engagement letter. Opinions,
conclusions and other information in this e-mail and any attachments that do
not relate to the official business of the firm are neither given nor endorsed
by it.
KPMG cannot guarantee that e-mail communications are secure or error-free, as
information could be intercepted, corrupted, amended, lost, destroyed, arrive
late or incomplete, or contain viruses.
This email is being sent out by KPMG International Cooperative ("KPMG
International") on behalf of the local KPMG member firm providing services to
you. KPMG International Cooperative ("KPMG International") is a Swiss entity
that serves as a coordinating entity for a network of independent firms
operating under the KPMG name. KPMG International provides no services to
clients. Each member firm of KPMG International is a legally distinct and
separate entity and each describes itself as such. Information about the
structure and jurisdiction of your local KPMG member firm can be obtained from
your KPMG representative.
This footnote also confirms that this e-mail message has been swept by
AntiVirus software.
**********************************************************************
The information in this e-mail is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this e-mail by anyone else
is unauthorized. If you have received this communication in error, please
address with the subject heading "Received in error," send to the original
sender, then delete the e-mail and destroy any copies of it. If you are not the
intended recipient, any disclosure, copying, distribution or any action taken
or omitted to be taken in reliance on it, is prohibited and may be unlawful.
Any opinions or advice contained in this e-mail are subject to the terms and
conditions expressed in the governing KPMG client engagement letter. Opinions,
conclusions and other information in this e-mail and any attachments that do
not relate to the official business of the firm are neither given nor endorsed
by it.
KPMG cannot guarantee that e-mail communications are secure or error-free, as
information could be intercepted, corrupted, amended, lost, destroyed, arrive
late or incomplete, or contain viruses.
This email is being sent out by KPMG International Cooperative ("KPMG
International") on behalf of the local KPMG member firm providing services to
you. KPMG International Cooperative ("KPMG International") is a Swiss entity
that serves as a coordinating entity for a network of independent firms
operating under the KPMG name. KPMG International provides no services to
clients. Each member firm of KPMG International is a legally distinct and
separate entity and each describes itself as such. Information about the
structure and jurisdiction of your local KPMG member firm can be obtained from
your KPMG representative.
This footnote also confirms that this e-mail message has been swept by
AntiVirus software.
________________________________
The information in this e-mail is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this e-mail by anyone else
is unauthorized. If you have received this communication in error, please
address with the subject heading "Received in error," send to the original
sender, then delete the e-mail and destroy any copies of it. If you are not the
intended recipient, any disclosure, copying, distribution or any action taken
or omitted to be taken in reliance on it, is prohibited and may be unlawful.
Any opinions or advice contained in this e-mail are subject to the terms and
conditions expressed in the governing KPMG client engagement letter. Opinions,
conclusions and other information in this e-mail and any attachments that do
not relate to the official business of the firm are neither given nor endorsed
by it.
KPMG cannot guarantee that e-mail communications are secure or error-free, as
information could be intercepted, corrupted, amended, lost, destroyed, arrive
late or incomplete, or contain viruses.
This email is being sent out by KPMG International Cooperative ("KPMG
International") on behalf of the local KPMG member firm providing services to
you. KPMG International Cooperative ("KPMG International") is a Swiss entity
that serves as a coordinating entity for a network of independent firms
operating under the KPMG name. KPMG International provides no services to
clients. Each member firm of KPMG International is a legally distinct and
separate entity and each describes itself as such. Information about the
structure and jurisdiction of your local KPMG member firm can be obtained from
your KPMG representative.
This footnote also confirms that this e-mail message has been swept by
AntiVirus software.
________________________________
The information in this e-mail is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this e-mail by anyone else
is unauthorized. If you have received this communication in error, please
address with the subject heading "Received in error," send to the original
sender, then delete the e-mail and destroy any copies of it. If you are not the
intended recipient, any disclosure, copying, distribution or any action taken
or omitted to be taken in reliance on it, is prohibited and may be unlawful.
Any opinions or advice contained in this e-mail are subject to the terms and
conditions expressed in the governing KPMG client engagement letter. Opinions,
conclusions and other information in this e-mail and any attachments that do
not relate to the official business of the firm are neither given nor endorsed
by it.
KPMG cannot guarantee that e-mail communications are secure or error-free, as
information could be intercepted, corrupted, amended, lost, destroyed, arrive
late or incomplete, or contain viruses.
This email is being sent out by KPMG International Cooperative ("KPMG
International") on behalf of the local KPMG member firm providing services to
you. KPMG International Cooperative ("KPMG International") is a Swiss entity
that serves as a coordinating entity for a network of independent firms
operating under the KPMG name. KPMG International provides no services to
clients. Each member firm of KPMG International is a legally distinct and
separate entity and each describes itself as such. Information about the
structure and jurisdiction of your local KPMG member firm can be obtained from
your KPMG representative.
This footnote also confirms that this e-mail message has been swept by
AntiVirus software.
**********************************************************************
The information in this e-mail is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this e-mail by anyone else
is unauthorized. If you have received this communication in error, please
address with the subject heading "Received in error," send to the original
sender, then delete the e-mail and destroy any copies of it. If you are not the
intended recipient, any disclosure, copying, distribution or any action taken
or omitted to be taken in reliance on it, is prohibited and may be unlawful.
Any opinions or advice contained in this e-mail are subject to the terms and
conditions expressed in the governing KPMG client engagement letter. Opinions,
conclusions and other information in this e-mail and any attachments that do
not relate to the official business of the firm are neither given nor endorsed
by it.
KPMG cannot guarantee that e-mail communications are secure or error-free, as
information could be intercepted, corrupted, amended, lost, destroyed, arrive
late or incomplete, or contain viruses.
This email is being sent out by KPMG International Cooperative ("KPMG
International") on behalf of the local KPMG member firm providing services to
you. KPMG International Cooperative ("KPMG International") is a Swiss entity
that serves as a coordinating entity for a network of independent firms
operating under the KPMG name. KPMG International provides no services to
clients. Each member firm of KPMG International is a legally distinct and
separate entity and each describes itself as such. Information about the
structure and jurisdiction of your local KPMG member firm can be obtained from
your KPMG representative.
This footnote also confirms that this e-mail message has been swept by
AntiVirus software.
===================
======
You are subscribed to the Cape Town Fighting Game Community mailing list.
Click here to unsubscribe:
//www.freelists.org/list/cpt-fgc<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.freelists.org_list_cpt-2Dfgc&d=DwMFaQ&c=0TzQCy9lgR5hSW-bDg5HA76y7nf4lvOzvVop5GM3Y80&r=3188cCLKqrRVUgvzUimFxNxHH_Hcs83no5DXOBKTq-g&m=ivleIsBsx0nS30pgIEZojLXkm9z0xh3K6o9iCYi1dHs&s=B8E0PVUS544JkqGZ-QpchlHdouEbNmbqgHl2slW8C2E&e=>
**********************************************************************
The information in this e-mail is confidential and may be legally privileged.
It is intended solely for the addressee. Access to this e-mail by anyone else
is unauthorized. If you have received this communication in error, please
address with the subject heading "Received in error," send to the original
sender, then delete the e-mail and destroy any copies of it. If you are not the
intended recipient, any disclosure, copying, distribution or any action taken
or omitted to be taken in reliance on it, is prohibited and may be unlawful.
Any opinions or advice contained in this e-mail are subject to the terms and
conditions expressed in the governing KPMG client engagement letter. Opinions,
conclusions and other information in this e-mail and any attachments that do
not relate to the official business of the firm are neither given nor endorsed
by it.
KPMG cannot guarantee that e-mail communications are secure or error-free, as
information could be intercepted, corrupted, amended, lost, destroyed, arrive
late or incomplete, or contain viruses.
This email is being sent out by KPMG International Cooperative ("KPMG
International") on behalf of the local KPMG member firm providing services to
you. KPMG International Cooperative ("KPMG International") is a Swiss entity
that serves as a coordinating entity for a network of independent firms
operating under the KPMG name. KPMG International provides no services to
clients. Each member firm of KPMG International is a legally distinct and
separate entity and each describes itself as such. Information about the
structure and jurisdiction of your local KPMG member firm can be obtained from
your KPMG representative.
This footnote also confirms that this e-mail message has been swept by
AntiVirus software.
