Tax residency
Also known as: tax resident, residency test
Your status as a tax resident, which in South Africa means worldwide crypto gains are taxable; ceasing residency triggers a deemed disposal.
Definition
South Africa taxes residents on worldwide income and gains, including crypto held on offshore exchanges. Residency is determined by the ordinarily resident test or the physical presence test. Non-residents are taxed only on SA-source income. Ceasing to be a tax resident triggers a deemed disposal (exit charge) of worldwide assets except SA immovable property, which can crystallise CGT on crypto.
Example
As a South African tax resident, your gains on crypto held with an overseas exchange are taxable here, not just gains on local platforms.
Jurisdiction notes
- South Africa: SA residents are taxed on worldwide crypto gains; ceasing residency triggers a deemed disposal (exit charge).