Acquisition
Also known as: acquisition event, cost event
The point at which you obtain a crypto asset and establish its base cost — by buying, receiving or otherwise gaining ownership.
Definition
An acquisition is when you take ownership of a crypto asset, setting its base cost for later disposal. Buying with fiat, receiving crypto as income (such as staking rewards), and certain transfers are acquisitions. The base cost of crypto received as income is generally its market value in rands at receipt, which is also the amount usually taxed as income at that time.
Example
You receive 0.1 ETH as a staking reward worth R2,000. That R2,000 is income on receipt and also becomes the base cost of the 0.1 ETH for a future disposal.
Jurisdiction notes
- South Africa: Crypto received as income is taxed at market value on receipt, which then forms its base cost for CGT on later disposal.