You need to indicate the full proceeds and base cost on both tax returns, however you must tick the box which asks if the property is held jointly. SARS will then halve the capital gain on each tax return as well as halve the primary residence exclusion (so you will have R1m exemption each applicable to 50% of the gain).
Please Register for TaxTim and let us assist you to complete and submit your tax return to SARS.
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.