Must a capital gain be included in the first provisional return for the year when the gain is made?



Leggs says:
5 June 2015 at 16:43

My company sold a property in April 2015. The tax year end is February 2016. Would the capital gain on the sale of the property have to be included in the first provisional tax return in August. The company has never actually traded and has no basic amount.

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TaxTim TaxTim says:
7 June 2015 at 13:27

Yes the capital gain would be included in the income of the company for the 2016 year and therefore the August Provisional return.




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