I have an opportunity to exercise options for an unlisted, US-based company. The purchase value of the options will be around $5400 International holding tax of about $4881. 53 so I need to understand what would be expected in terms of a SARS payment. I plan to hold on to the shares.
From Sep '14 to Oct '15 I temporarily left the employ of my company to study my MBA full time overseas. During this time I rented my primary residence in South Africa out. (a) Am I able to deduct the losses on the rental of my primary property (rent - levies - interest on bond - rates) from my taxable income?
(b) During the time I was away, I had to make use of savings to pay for living expenses (food, necessities, partial travel expenses, but NOT tuition, textbooks, accommodation, vi...
Bought shares for R5000. 00 in 2008 Opened a share trading account in 2015. No of shares was 187 and the value was brought in as 187 x R1854 R346698. Sold in 2015 for R1822. 00x187 Also bought other shares which is share trading. Is this Capital or income
I have a question relating to rental income from investment property in my personal name. Very simple put, I have R 1000 000 available on my primary residence bond - I would like to utilize this to acquire a rent producing flat. Will I be able to deduct the finance charges incurred on the R 1000 000 from the rental income to reduce my taxable rental income?
I did some renovations to a rental property between tenants. I replaced the carpet with tiles, replaced all the kitchen cupboards and the oven, and repainted. All of these renovations were specified in my rental contract with the new tenant - she viewed the unit before the renovations, and we agreed that they would be carried out before she took occupation. Which costs can I deduct as expenses in the production of the rental, or must I add all of the costs to the base cost of the property for pu...
I'm selling a property of mine - it's my primary residence. The sale agreement will have the buyer settle the amount with me in monthly installments. Will this cause a problem with my tax return in terms of capital gains etc? Or would the end result be the same as if the buyer had paid me a lump sum?
I just invested in a Global Property index fund held under a tax-free savings account. I believe this is exempted from SARS 15% dividends tax. The IRS tax rate for foreign investment goes as high as 30%! Is there a possible chance that I may be taxed twice, dividends tax and then capital gains tax, when I sell and bring over the amount back in South Africa?
We are completing our 1st provisional tax return for our property company, and because we have disposed of properties in the last 6 months, this has triggered a Capital Gain which is payable to SARS (we donā%u20AC%u2122t have any assessed losses which we can utilise). Our question is quite simple. Do you have to pay over the CGT to SARS with the 1st provisional tax payment, or can you defer it to your 2nd provisional tax payment?
Ideally we would like to push this out by 6 months to...
When you sell a property at a profit. Should there be a recoupment in your tax return as well as a capital gain? I. E. You reverse any deductions that you have received over the life of the asset via the recoupment, and then the proceeds are reduced by the recoupment and the deductions are reduced against the base cost.
Hi guys, I have a Dutch client. He moved here and bought a home in 2012. He had foreign (FTSE and S&P) shares which he has just sold for a small profit. My understanding is that he would not be subject to CGT as he has not been considered "resident" via both Ordinarily Resident and Physical Residence yet. Can you clarify pls??
I own a business and I draw a standard non- pensionable salary of R1 440 000 (120K p/m). I pay R360k (30k p/m)to an RA. Which means I actually don't earn enough to achieve the max tax destructibility for my RA. However this year for the first time I have other income from share sales (my share trading G&L statement currently reflects a gain of 264K). Will this income add to the non-pensionable salary above and thereby reduce the disallowed portion of the RA Contribution?
HI. What if you forget to include something on your tax return, but have already filed it..... I have incurred a capital gain due to the sale of a property, and see that I should have included some share sales, which incurred a loss. Would they have been set off against each other?
I earn a salary and have an IRP5. This year I have received a capital gain distribution from a trust of which I am a beneficiary of. A property was sold in the Trust and it was decided to split the capital gain between myself and my husband in equal shares. I am not sure how to deal with this on my tax return. I assume that I tick the box that says that a capital gain is applicable - it then asks me to put in the proceeds and base cost etc, but as I only received half the gain I am not too sure ...