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Cryptocurrency mining - Some questions
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<blockquote data-quote="ron g" data-source="post: 789094" data-attributes="member: 13653"><p>this would clearly be a income generating venture, & therefore fully taxable. (if declared)</p><p>you would be able to deduct expenses incurred in generation of the income. </p><p>your profit would consist of 2 elements - the new currency generated during the period and any variation in value when translated back in rands at the end of the period.</p><p></p><p>please could some clever person explain to me why this is not a giant pyramid scheme?</p></blockquote><p></p>
[QUOTE="ron g, post: 789094, member: 13653"] this would clearly be a income generating venture, & therefore fully taxable. (if declared) you would be able to deduct expenses incurred in generation of the income. your profit would consist of 2 elements - the new currency generated during the period and any variation in value when translated back in rands at the end of the period. please could some clever person explain to me why this is not a giant pyramid scheme? [/QUOTE]
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Cryptocurrency mining - Some questions
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