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Which base cost to use when calculating CGT?

Posted 24 February 2017 under Tax Q&A

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Ros says:
23 February 2017 at 21:37

I bought some Satrix Divi through the Satrix Investment Plan in Aug 2007. All dividends were reinvested by Satrix, ie every quarter more shares were bought. In July 2011, I transferred all of my "units" to an online broker and made no further purchases. For the first few months, my statements from that broker show a base cost per share of 0. Suddenly, in the March 2012 statement, it lists a cost per share, which appears to be the share price on March 16 2012. I have just sold these shares. When calculating my capital gain, can I use this base cost as listed on my broker statement, or do I have to go back to my Satrix records and work out the cost of each quarterly reinvestment over the 4 years, net of fees - quite a laborious exercise!

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TaxTim TaxTim says:
24 February 2017 at 9:57

The cost should be the original cost of the shares. However, your broker should issue you with a Capital Gains Tax report (IT3c) after year end and this will reflect the cost, proceeds and capital gain to be included in your tax return. If you need this report now for the purposes of calculating provisional tax, perhaps ask your broker if they can issue you with the confirmation of the cost.


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