Tax by country
South Africa — tax on crypto and investments
South African Revenue Service (SARS). Tax year 1 March – end of February (2025/26 = 1 Mar 2025 – 28 Feb 2026; 2026/27 = 1 Mar 2026 – 28 Feb 2027). Last verified 28-10-2026.
| Country | Currency | Tax year | Authority | Last verified | Status |
|---|---|---|---|---|---|
| ZA | ZAR | 1 March – end of February (2025/26 = 1 Mar 2025 – 28 Feb 2026; 2026/27 = 1 Mar 2026 – 28 Feb 2027) | South African Revenue Service (SARS) | 28-10-2026 | approved by the owner (accountant), 28-10-2026 |
Related article: hq-fs.com/blog/crypto-tax-south-africa
Not tax advice. Rules summarised from official sources, linked where each rule is stated, as verified on the date above. Confirm with a qualified adviser before filing.
SARS names a year of assessment by the calendar year it ends in. "2026" = 2025/26. "2027" = 2026/27.
At a glance#
Capital gains#
How a gain is computed#
Disposal events include sale, donation, exchange, loss, death and emigration. Crypto held by an individual is a financial instrument, so it is not a personal-use asset and is not excluded from CGT.
Short-term repurchase rule (paragraph 42)#
Inclusion and exclusions#
| Item | 2025/26 | 2026/27 |
|---|---|---|
| Inclusion rate — individual / special trust | 40 % | 40 % |
| Inclusion rate — company / other trust | 80 % | 80 % |
| Max effective rate — individual | 18 % | 18 % |
| Annual exclusion — individual | R40,000 | R50,000 |
| Annual exclusion — year of death | R300,000 | R440,000 |
| Primary residence exclusion | R2,000,000 | R3,000,000 |
2026/27 amounts: Bill B34-2026 deems them in force from 1-03-2026 for years of assessment starting on or after that date. SARS already publishes them (pocket guide, annual exclusion page).
Income#
When crypto is income#
| Activity | Treatment | Value |
|---|---|---|
| Trading (dominant profit purpose, high frequency) | Gross income; cost deductible under s11(a); trading-stock rules apply | Proceeds |
| Mining | Always a trade. Gross income (para (c) "services rendered") | Market value at earlier of receipt or accrual (usually wallet credit) |
| Staking (proof of stake) | Same as mining | Market value at receipt |
| Airdrop — worked for (tasks, services) | Gross income | Market value; cost = value of service |
| Airdrop — fortuitous (claim only) | Capital; not gross income | Base cost Rnil (para 38 does not apply) |
| Hard fork | Same test as airdrop | Market value; capital account cost not via para 38 |
| Salary paid in crypto | Employment income; PAYE (Fourth Schedule) | Market value |
| DeFi | No specific guidance; apply normal principles | — |
| Slashing / forfeited stake | Depends on facts; no fixed rule | — |
SARS's 2026 guide is a draft. Comment closed 31-08-2026. It is not binding.
Individual rates — 2025/26 (year ending 28-02-2026)#
SARS rates of tax for individuals.
| Taxable income (R) | Tax (R) |
|---|---|
| 0 – 237,100 | 18 % |
| 237,101 – 370,500 | 42,678 + 26 % above 237,100 |
| 370,501 – 512,800 | 77,362 + 31 % above 370,500 |
| 512,801 – 673,000 | 121,475 + 36 % above 512,800 |
| 673,001 – 857,900 | 179,147 + 39 % above 673,000 |
| 857,901 – 1,817,000 | 251,258 + 41 % above 857,900 |
| 1,817,001 + | 644,489 + 45 % above 1,817,000 |
Individual rates — 2026/27 (year ending 28-02-2027)#
SARS rates of tax for individuals; first bracket also in Bill B34-2026.
| Taxable income (R) | Tax (R) |
|---|---|
| 0 – 245,100 | 18 % |
| 245,101 – 383,100 | 44,118 + 26 % above 245,100 |
| 383,101 – 530,200 | 79,998 + 31 % above 383,100 |
| 530,201 – 695,800 | 125,599 + 36 % above 530,200 |
| 695,801 – 887,000 | 185,215 + 39 % above 695,800 |
| 887,001 – 1,878,600 | 259,783 + 41 % above 887,000 |
| 1,878,601 + | 666,339 + 45 % above 1,878,600 |
Rebates and thresholds#
SARS rebates and tax thresholds.
| Item | 2025/26 | 2026/27 |
|---|---|---|
| Primary rebate | R17,235 | R17,820 |
| Secondary rebate (65+) | R9,444 | R9,765 |
| Tertiary rebate (75+) | R3,145 | R3,249 |
| Threshold under 65 | R95,750 | R99,000 |
| Threshold 65–74 | R148,217 | R153,250 |
| Threshold 75+ | R165,689 | R171,300 |
Other investment income#
| Item | Rule |
|---|---|
| SA dividends | Exempt from income tax; 20 % dividends tax withheld by payer |
| Foreign dividends | Partly exempt under s10B; max effective 20 % |
| Retirement fund deduction cap | 27.5 % of the greater of remuneration or taxable income; capped R350,000 (2025/26), R430,000 (2026/27) |
| Tax-free savings | Annual R36,000 (2025/26), R46,000 (2026/27); lifetime R500,000; 40 % penalty on excess (Bill B34-2026) |
Cost basis and record keeping#
| Item | Rule |
|---|---|
| Identical assets | Units of the same crypto asset are "identical assets" (para 32(2)) (draft guide) |
| Capital account methods | Specific identification or FIFO (draft guide) |
| Weighted average | Not available for crypto. Reason given: crypto exchanges are not "recognised exchanges" (draft guide) |
| Trading stock | No method prescribed; LIFO prohibited (s22(5)); closing stock at cost, not written-down value |
| Free acquisitions (trading stock) | Cost = market value on acquisition (s22(4)) |
| Same-day rule | None found |
| 45-day rule | Paragraph 42 (see Capital gains) |
| Records required | Records, books of account and documents for every crypto transaction, incl. market values used for swaps |
| Retention — return filed | At least 5 years from the date the return was submitted (TAA s29(3)) |
| Retention — no return required | 5 years from the end of the period (TAA s29(2)(c)) |
| Retention — audit, objection, appeal | Until concluded or final, or the 5 years end, whichever is later |
Indirect taxes#
| Item | Rule |
|---|---|
| Buying / selling cryptocurrency | Exempt financial service (VAT Act s2(1) read with s12(a)) |
| Exchange, wallet and other fee-based services | Standard-rated |
| Fees, commissions, merchant discounts | Standard-rated (proviso to s2(1)) |
| Standard VAT rate | 15 % |
| Compulsory registration threshold | R1 million; R2.3 million from 1-04-2026 (SARS applying it to new applications before promulgation) (Bill B34-2026) |
| Voluntary registration threshold | R50,000; R120,000 from 1-04-2026 (Bill B34-2026) |
| Transaction / withholding tax on crypto | None found |
SARS's 2026 crypto draft guide does not cover VAT.
Reporting and deadlines#
| Item | Rule |
|---|---|
| Return | ITR12 (individuals). Declare all crypto income and gains in the year received or accrued (draft guide) |
| Crypto trading income code | Source code 4522 |
| Filing season 2026 (2025/26 year) | Auto-assessments 1–12 July 2026. Non-provisional by 23-10-2026. Provisional by 22-01-2027 |
| Provisional tax | Estimates must include crypto transactions in the year |
| Failure to file | Offence: fine or up to 2 years' imprisonment (TAA s234(2)(d)) |
| Undeclared past income | Voluntary Disclosure Programme, only before an audit or investigation starts |
| CARF — who reports | Reporting crypto-asset service providers (exchanges, brokers, custodians, payment providers). Not individuals |
| CARF — first period | 1-03-2026 – 28-02-2027; return due 31-05-2027 |
| CARF — exchange | SARS committed to exchanging CARF data with other jurisdictions from 2027 |
| Third-party data | SARS can require service providers to submit financial data |
Recent and upcoming changes#
| Date | Change | Status |
|---|---|---|
| 19-10-2022 | FSCA declares crypto assets a financial product under FAIS (GN 1350, GG 47334) | In force |
| 28-11-2025 | Final CARF and amended CRS regulations published (TAA) | In force |
| 25-02-2026 | Budget 2026: brackets +3.4 %, CGT annual exclusion R50,000, primary residence R3m, death R440,000, TFSA R46,000, retirement cap R430,000, VAT threshold R2.3m | Bill B34-2026 introduced |
| 1-03-2026 | CARF in force (CARF FAQs) | In force |
| 1-04-2026 | Act 3 of 2026 assented (gives effect to the 2025 Budget, i.e. the 2025/26 figures) | In force |
| 2-06-2026 | SARS IT3(c) clarification: crypto base cost by specific identification or FIFO only | Published |
| 1-07-2026 | SARS Draft Guide to the Taxation of Crypto Assets; comment closed 31-08-2026 | Draft; final not yet seen |
| 31-05-2027 | First CARF returns due from service providers | Upcoming |
Was this page helpful?