How does the tax on selling painting given to me as a gift get calculated?

Posted 14 October 2012

Hi, just want to know I was given a painting as a gift by my grandmother years ago and now want to sell it on an auction in London, the proceeds will be deposited into my bank account after vat and costs (handled by a professional auctioneer company in south africa). I want to know how do I handle the tax situation.

How do I claim for the purchase price of 3 flats that I rent out?

Posted 14 October 2012

I have finished my claim, I noticed a place on the form to enter the interest I paid to the bank for the finance. Is there no way to claim for the actual money I paid for the flat each month compared to what I earned each month in rent?

Capital Gains Tax

Posted 20 August 2012

I received an inheritance. I sold the property. There is no base cost, since I did not pay for the property and there is no improvement made. How do I proceed with the question.

Do I have to pay tax on a property in South Africa I sold, if i am a UK citizen?

Posted 11 August 2012

I had a flat in South Africa which I have sold in Oct 2011 & made a capital gain of about R200 000 less fees of approx R70 000, do I need to fill out tax return for yr ending Feb 2012.

What is the period allowed for disposal of a primary residence for capital gains tax?

Posted 8 August 2012

We are planning to move into another house and have not decided what to do with our current primary residence. If we move out, for how long is it still considered a primary residence, as it will take time to sell it? Also, what is the tax we would pay on any sale profits if sold as a primary residence or as capital gains? Am married in community of property.

How do I calculate how much tax I owe?

Posted 23 April 2012

TAX PAYABLE is essentially calculated as follows:


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How do I know if I am a tax resident of South Africa?

Posted 15 March 2012

A burning question people often ask tax professionals is whether or not they are a tax resident in a certain country. The question is important because it distinguishes between tax residents and tax non-residents – both paying tax in South Africa.

• Tax non-residents are people who do not ordinarily reside in South Africa but do business here and thus pay tax to the SA government ONLY on what they earned from South African sources.

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What is Provisional Tax?

Posted 6 January 2012

So as we are getting closer to Provisional Tax Season the question on taxpayer’s minds is, do I qualify as a provisional taxpayer? The Income Tax Act sets out specifics as to who qualifies and who doesn’t.

If you are a salaried employee then your employer will deduct a monthly amount and pay it over to SARS on your behalf. You will only have to file one tax return at the end of tax season.

Otherwise you may qualify as a provisional taxpayer and will have to submit a return twice a year...

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