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Declaring financial derivative gains on the ITR12

Posted 24 November 2015 under Tax Questions



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SSF says:
23 November 2015 at 21:52

I earned income as the result of trade in financial derivates. I am not a professional trader and do this in my spare time. How do I declare this on the ITR12 and how do I claim expenses against this income? Is this defined as a business or as investing and capital gains? I used my home office and own equipment for financial research and online trading. In a previous answer you stated that this type of income can be declared on the ITR12 but somehow I missed it in the TaxTim Q&A process. When I tried to declare this on SARS e-filing, I was not sure about the source code. Please assist

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TaxTimTaxTim says:
24 November 2015 at 0:02

From what you are saying this would still be declared as revenue earnings, you can use the section for Other Income and put the net amount of your earnings. SARS will ask for supporting documents in which case you would need to send them a spreadsheet and breakdown of how you arrived at that figure.


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