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Thread: Does a Minor who is a Miner affect the Parents' tax

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    Junior Member Biz_With_Bruce's Avatar
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    Question Does a Minor who is a Miner affect the Parents' tax

    Just a quick one for a co worker of mine,

    His Son is 16 years old and started the Crypto mining hobby, which is making a bit of money now.
    The son is not keeping it in crypto, he is converting it to ZAR as soon as it becomes available
    Does this affect the co-workers tax?
    (Note the Minor does have his own Tax Number for the past 5 years, from a once off photo shoot where he earned money 5 years ago, and they required the tax number before paying him, which resulted in him paying 25% tax and in the end got a full refund for being below the annual threshold.)

    The co-worker is a provisional tax payer and just wants to know if the crypto income of his son should be added to the adults' provisional tax calculation?
    If not, they I think the Son should complete a provisional tax form right?

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    Quote Originally Posted by Biz_With_Bruce View Post
    If not, they I think the Son should complete a provisional tax form right?
    His son is the taxpayer and should register for provisional tax.

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    Dave A (02-Oct-21)

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    Junior Member Biz_With_Bruce's Avatar
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    Well that is a plus, at least it does not add to the income of the Dad, which would be taxed a lot higher.
    Now they just have to find a crypto wallet for someone under 18. I think Luno is the most popular one in South Africa, but they require 18 or older.

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