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Janieke says: 20 November 2015 at 9:32 I would like to sell a rental property which was my primary residence from 1 September 2007 -30 June 2012. It has been rented out from 1 July 2012 till the date of sale? December 2015. This means it was my primary residence for 5 out of 8 years. Is the capital gains calculated for the 3/8 years ie: 37,5%? |
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TaxTim says: 20 November 2015 at 9:44 Yes, the portion of the gain which will attract capital gains tax will be for the rental period only i.e 37,5% of the total gain. One third of this amount will be added to your taxable income. Please make use of our Capital Gains Tax Calculator to assist with your calculations. |
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