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Calculate CGT in my company for tax purposes?

Posted 23 June 2015

Muhammad says:
21 May 2015 at 16:27

My CC has purchased property prior to Oct 2001 for an amount of R150000. 00 , The CC is dormant and has never traded, I now want to sell the property for R 680 000. 00, what is my tax liability on the CC and what would be the best way to show this?

TaxTim TaxTim says:
31 May 2015 at 22:27

The CC would have to include 66.6% of a gain of (R820 000 less an annual exclusion of R30 000) so R790 000 in the taxable income of the CC which would then get taxed at 28%.

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