Download your crypto tax report with everything you need to file
Recap automatically calculates your crypto taxes so you can generate a SARS compliant tax report in a click.
All SARS rules applied to your crypto transactions
Accurate pricing valuations
Detailed downloadable capital gains and income reports
Easily reconcile your data for the most reliable crypto tax report
Recap intuitively suggests any discrepancies and missing transactions within your data, making fixing issues simple.
Duplicate transactions are recognised and automatically ignored
Any missing data is highlighted so you can fill in the gaps
Reclassify your transactions to ensure the correct tax treatment
Editable pricing valuations
Recap's fair market valuation methodology ensures accurate and auditable pricing for your assets
Our FMV method, powered by Coin Gecko, Kaiko and Oanda establishes the best valuation for your crypto assets.
Share data with your accountant without compromising privacy
Share your entire transaction history so your accountant can finalise your tax return without sending multiple CSVs back and forth.
no need to divulge crypto keys or private account and wallet information
only share the necessary information required for accurate tax calculations
2 step verification process for extra security and you can revoke share at any time
Read our Crypto Tax Guide for South Africa
A detailed insight into crypto tax verified by SA crypto tax specialists
FAQs
- How is cryptocurrency taxed in South Africa?
Cryptocurrency gains and income earned by South African taxpayers are subject to either income tax or capital gains tax, depending on the type of gains, activity taken and how long assets are held.
- How much tax do you pay on crypto in South Africa?
In South Africa, normal tax rates apply to cryptocurrency. The amount of tax you'll pay depends on whether your crypto activity is classed as capital or income tax and your rate of tax.
- Can SARS track my crypto?
Crypto is pseudonymous but transactions are visible on the ledger so yes, SARS may be able to track and trace your activity. SARS do not share their auditing processes but some of the most popular exchanges operating in South Africa have confirmed that they have had to provide customer information to the tax authority.
- Do exchanges report user information to SARS?
Yes, exchanges operating in South Africa - Luno, VALR and AltCoinTrader have all confirmed that they have been legally obliged to provide SARS with customer information.
- Will my crypto be taxed as capital gains or income?
SARS have confirmed that profits from crypto will be taxed based on existing capital gains or revenue rules. Understanding how your transactions should be treated can be complex, depending on the type of activity, your intention behind the transaction and individual situation.
- How do I work out the cost basis of my crypto?
SARS have clarified that the First-In, First-Out method should be used to work out the cost of a cryptoasset when it is disposed of.