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Capital gains in provisional tax returns

Posted 27 January 2017 under Tax Q&A


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Theresa says:
27 January 2017 at 10:29

Must capital gains from an investment portfolio be included in the Turnover amount for provisional tax returns 1 and 2?

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TaxTim TaxTim says:
27 January 2017 at 11:09

Yes you have to include the capital gain to your turnover on your IRP6

Theresa says:
27 January 2017 at 11:13

Thank you for your reply. And if you had a capital loss for the 2016 tax return (ITR12), can you offset that against the capital gain for the provisional tax return 2017 period 2?

TaxTim TaxTim says:
27 January 2017 at 11:16

The capital loss would have been offset against your income in the 2016 tax period so you unfortunately can't account for it on the 2017 income again.


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