Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Capital Gains on joint ownership of property where only one person is the primary resident.



Andre says:
19 August 2015 at 13:18

I am joint owner (50%) of a property with my son. He is the primary resident, I am not. If we sell the property, how is the Capital Gains Tax calculated? The gain will be way below the threshold of gain of a primary residence.

TaxTim TaxTim says:
20 August 2015 at 6:08

Your portion will not be subject to the primary residence exclusion and a third of the gain you make will be included in your income and subject to normal tax. You can exclude the first R30 000 of the gain however. His portion will be subject to half the primary residence exclusion as the property is jointly held.

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.




Submit your tax return right here!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.