Hi guys
I am a trader of forex.
I would like to know that how does the tax system in South Africa works once you start making a living from trading forex.
I started trading for myself only at first. Now that i have become more experienced and successful there has been investors approaching me to invest their money.
I currently manage few clients accounts. I trade for these guys and give them returns of 5% to 10% a month based on the capital they invested.
The remaining profits after the payment of 5% to 10% a month goes to me.
Could someone help me determine what should i declare to SARS and when should i declare this?
Also tell me what part should my investors declare to SARS?
I am a trader of forex.
I would like to know that how does the tax system in South Africa works once you start making a living from trading forex.
I started trading for myself only at first. Now that i have become more experienced and successful there has been investors approaching me to invest their money.
I currently manage few clients accounts. I trade for these guys and give them returns of 5% to 10% a month based on the capital they invested.
The remaining profits after the payment of 5% to 10% a month goes to me.
Could someone help me determine what should i declare to SARS and when should i declare this?
Also tell me what part should my investors declare to SARS?
via Small-Business-Forum.net http://www.small-business-forum.net/accounting-taxes/9409-tax-trading-forex.html
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