Our Blog | CH Consulting

South African crypto tax myths debunked

by CH Consulting | Jun 23, 2023

The crypto industry’s rapid pace of development has left many South Africans unsure of where they stand. Whether hype or reality – and, often, it’s a bit of both – the stories we read online and the conversations we hold over the braai can leave...

Retirement Annuity Tax Benefit

by CH Consulting | Mar 13, 2022

Let's see how you can make a retirement annuity tax benefit work for you. Are contributions to pension, retirement annuity, and provident funds tax deductible? In short, yes. All contributions are deductible and result in a retirement annuity tax...

Budget Speech 2022 – Summary

by CH Consulting | Feb 24, 2022

Finance minister Minister Enoch Godongwana gave his first 2022 budget speech from Parliament on Wednesday the 23 February 2022. This speech comes after the South African economy has been subject to protests, governmental debt and covid...

Crypto Regulation in South Africa

by CH Consulting | Jan 13, 2022

Background Since Bitcoin's official launch in January 2009, the growth of this technology has been exponential, growing much faster than the internet in the early 1980s. With such growth, responsibility needs to be taken from all parties involved...

Crypto Tax in South Africa

by Chris Herbst | Dec 13, 2021

SARS and Crypto Assets The South African Revenue Service (SARS) has set its sights on a new lucrative income source. For the last five years, we (CH Consulting) have been calculating crypto taxes for clients, it is safe to say we have performed...

A simple explanation of Home Office Tax Deductions (South Africa 2021)

by Chris Herbst | May 30, 2021

Due to lockdown, many taxpayers will be allowed to deduct home office expenditure in the 2021 tax year. Previously a taxpayer may have worked in a home office after hours, but seldom would they have reached the 50% requirement. Due to lockdown,...

Tax on Foreign Income – South Africa – 2020 Amendment

by Chris Herbst | Jul 17, 2019

Please note that the below does not constitute formal tax advice. As part of the residence-based tax system's implementation in 2001, Treasury introduced Section 10(1)(o)(ii) of the Income Tax Act. This section provides relief for South African...

How is cryptocurrency such as Bitcoin taxed in South Africa?

by Chris Herbst | Dec 1, 2017

Please note that the information below is an opinion and cannot be used to rely on as formal tax advice. In order to obtain formal tax advice regarding your tax situation, please contact us directly for a consultation. For the lazy reader I start...

How the new Tax Compliance Status (TCS) (the replacement of Tax Clearance Certificates (TCC)) works.

by Chris Herbst | Jun 22, 2016

This article will first explain the rational for the new system, then the difference with the previous system and finally on a practical note provide you with steps to obtain your tax compliance status on e-filing. The new Tax Compliance Status...

Tax deductions for Pension, Retirement and Provident funds simplified

by Chris Herbst | Apr 13, 2016

All contributions to pension, retirement annuity and provident funds can be deducted from the individual's taxable income. The deduction is capped at a rate of 27.5% of the greater of remuneration and taxable income. In other words, if say your...