TAX OR JAIL ON BITCOIN AND GOLD

It came to my attention that some of you are under the impression that since Karatbars and Bitcoin falls outside the South African monetary system, which is true, you are not going to pay tax on your income from it. That is not true! 

Just because something falls outside of the SA monetary system does NOT mean it falls outside the SA tax system. These are two different issues and I feel it's my duty to warn you! 

SOUTH AFRICAN CITIZENS ARE NEVER OUTSIDE THE SOUTH AFRICAN TAX SYSTEM. It doesn't matter where in the world you live or earn your money. 

However, a South African will never pay double tax, because SA is a signatory of an international tax treaty. This means that if you paid tax in Germany on the Karatbars income, you will only pay the difference in SA if the German tax was lower than what it would have been in SA. I.e., you won't pay full tax in both Germany and South Africa on the same income. 

Although, it doesn't automatically mean that you will pay tax on your income just because you are in the SA tax system. With the Treoc Way, for example, we declare every single cent, but we don't pay tax on every cent. As you know, Treoc has the best legal tax avoidance system in the world. Therefore, you and your team members should contact Treoc immediately for proper legal tax advice BEFORE you submit a tax return. ESPECIALLY IF YOU ARE INVOLVED WITH GOLD BULLION AND BITCOIN! 

If you want us to help you, just send an SMS with the word “TAX” to 44414 before you submit a tax return, and one of our advisors will contact you. 

On the following Richer Life events, I will shed some more light on this topic and many others:

01 April – Secunda

08 April – Port Elizabeth

22 April - Kimberley

6 May - Upington

13 May - Cape Town

27 May – Durban 

Book now on the link below and use the voucher code “TREOC” to get a 50% discount!

For more details & bookings: http://bit.ly/RicherLifeBookings

All the best and see you soon!