ITR12 (income tax return)
Also known as: ITR12 return, income tax return
The annual income tax return individuals file with SARS, where crypto income and capital gains must be declared.
Definition
The ITR12 is the income tax return that South African individuals submit to SARS each year. Crypto activity is declared here: revenue income (such as trading profits, mining or rewards) under income, and capital gains under the CGT section. Accurate, reconciled records make completing the ITR12 defensible, especially as SARS increasingly receives third-party crypto data.
Example
After a year of crypto trading and one long-term sale, you report the trading profit as income and the long-term gain in the CGT section of your ITR12.
Jurisdiction notes
- South Africa: Crypto income and capital gains are declared on the ITR12; SARS increasingly cross-checks against third-party data.