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Does C.G.T. apply to the sale of offshore assets held by someone living in SA?

Posted 18 February 2016 under Tax Q&A


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Piet says:
17 February 2016 at 8:20

Does C. G. T. Apply to the sale off shore assets held by someone who is a permanent SA resident but not a SA citizen?

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.

TaxTim TaxTim says:
17 February 2016 at 13:55

South African tax residents are taxed on their worldwide income. Therefore CGT arising from the sale of offshore assets would need to be declared in your local SA tax return provided you are tax resident in South Africa.

Piet says:
17 February 2016 at 14:05

Thanks for a great answer! Question answered!

TaxTim TaxTim says:
18 February 2016 at 13:02

Glad we could assist!


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