As you are tax resident in SA, you will pay income tax on your world wide trading. You will be applying your mind and effort in SA for the trading and that is where you will be taxed.
According to my ITR12 return it calls for a declaration on foreign investment interest income. Further under CGT it calls for local gains and losses in Rand, no mention of foreign CGT gains/losses over base figure. So either SARS or I have to activate foreign CGT operations. So not sure whether I really need to report activity on transactions in foreign currencies
May need to talk to a tax expert
As from 1 October 2001, Capital Gains Tax (CGT) applies to a resident’s worldwide
assets and to a non-resident’s immovable property or assets of a permanent
establishment in South Africa.
All capital gain transactions must be declared. Local and foreign transactions should be declared separately, with the exception of the disposal of shares which can be grouped together per certificate received.
The income tax return makes provision for you to declare ten local and ten foreign capital gain or loss transactions, therefore requiring you to declare each transaction separately. Where multiple disposals of shares (that is administered by a single administrator) take place and the disposal of such shares are reported on a single certificate, the disposals reflected on the certificate can be treated as one disposal
