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CGT on deed of sale or on date of transfer of property

Posted 26 January 2016 under Tax Questions



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Paul says:
25 January 2016 at 21:02

I sold a rental property in my personal capacity and the deed of sale was 22 January 2015 but the deed of transfer was 6 months later. When am I liable for CGT? Tax year 2015 or 2016?

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TaxTimTaxTim says:
26 January 2016 at 11:54

This is a sticky issue with SARS - when does the transfer take place according to the sale deed?
What is occupation date on the sales deed?


Paul says:
26 January 2016 at 12:18

Hi there,

The deed of sale states that the occupation will take place on the registration of transfer and therefore there is no occupation date been set in the deed of sale.

the property was transferred(registered) on the 28th of May 2015 therefore occupation was 28 May 2015.

the deed sale was signed on the 22 January 2015


TaxTimTaxTim says:
26 January 2016 at 16:30

CGT is generally due on the sale date unless there are certain "suspensive" conditions to be fulfilled which might result in the sale not going through if these conditions do not occur.

Registration at the deeds office is not a suspensive condition and therefore based on the details you provided, CGT would be payable in 2015.


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