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Capital gains and recoupments

Posted 12 October 2015 under Tax Questions



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Chris says:
7 October 2015 at 9:48

If my selling price for an asset is R 2,258,548, Cost is R 2,800,000 and the Tax Value is R 1,120,000. What will my recoupment and capital gain be?

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TaxTimTaxTim says:
7 October 2015 at 15:36

Please make use of our Capital Gains Tax Calculator to work out the tax due on the sale of your asset.


Chris says:
12 October 2015 at 8:28

The calculator is only for individuals, the above scenario is for a company...


TaxTimTaxTim says:
12 October 2015 at 17:06

The principal is the same - the difference is that 2/3 of the gain is added to the company's taxable income (instead of 1/3 for an individual) and will be taxed at the corporate rate of 28%.


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