Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Capital Gains Tax calculation

Posted 11 April 2016 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Robin says:
9 April 2016 at 14:36

I recently sold my home in South Africa at R6,500,000 (5 April 2016). I purchased this property in 2006 at R3,500,000. When would I need to submit this to get CGT assessed. In addition to the R2,000,000 primary residence exclusion, what is the 2016 annual exclusion? Is there a SARS CGT call number?

This entry was posted in Tax Questions and tagged , , , , . Bookmark the permalink.

TaxTimTaxTim says:
11 April 2016 at 7:14

You would pay CGT on the gain being R3 000 000 less the R2 000 000 primary exclusion so therefore R1 000 000 then you would deduct the R40 000 annual exclusion and then include 40% of the remaining gain in your taxable income and pay tax on that.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →