Tax Returns

[Stij]

So where does one declare profit/loss from trading activity which doesn't count as a capital gain/loss? The only section that looks applicable is the "Income due to trade, business or other activity" but selecting that option loads an entire income statement which seems more like the kind of thing to be used when trading through a CC? The source codes in this section also seem to pertain to professionals i.e. the closest to share trading is stock brokerage... Please help.

[Dutch]

I declared mine under Income other than Turnover, Description: Share Tading, Source code: 2598. Hope this helps

[Stij]

Thanks - but I can't find that section on my tax return. Which overall heading is it under? Using e-filing btw...

[SimonPB]

a response from SARS

I had a question from a client as to where on his tax return (IT12) should he enter profits from share trading that are NOT CGT (CGT has its own specific section).

SARS have advised that the client (tax payer) select "Local Business, trade and professional income" when setting up his tax return online, and then disclosing the share trading profits in the space provided.

This would also most likely be the section where Futures P&L would be disclosed as it is unlikely to be of a capital (CGT) nature.