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What would be the amount of tax we would have to pay and why.

Posted 2 December 2015

Phoebe says:
2 December 2015 at 11:19

Bought vacant land contract dated 5th October 2001 in a cc, for R87764. 00, became the members on 7th January 2002, what would the tax implications be if I sell this property now at R1 000 000.

TaxTim TaxTim says:
2 December 2015 at 18:41

Please make use of our Capital Gains Tax Calculator to work out tax you would need to pay. Please note this calculator is for an individual - for a CC, you need to take 2/3 of the gain and add to the CC's taxable income (not 1/3 of the gain per this calculator which is for individuals only).

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